Investments in Turkey's entrepreneurship ecosystem peak

By Tolga Yanik

ISTANBUL (AA) - Investments in Turkey's entrepreneurship ecosystem set a record last year, reaching $139 million, the nation’s vice president said on Friday.

Speaking at the 3rd Value Summit and Turkey Add Value Brands Awards Ceremony, Fuat Oktay said the nation continues its efforts to simplify business procedures of all domestic and international investors to increase investments.

Turkey is one of the less restrictive Organisations for Economic Co-operation and Development (OECD] countries with a 0.059 rate, which is measured by the OECD under the foreign direct investment Regulatory Restrictiveness Index, he said.

Stressing Turkey's '10 Turcorn' goal for 2023, Oktay said the fertile environment for indigenous unicorns that have a target of reaching more than a $1 billion valuation was formed in Turkey's tech-zones.

Saying that Turkey will strengthen its success with economic and law reforms, he pointed out Turkey's 1.8% growth rate in 2020 and added: "That figure is one of the most concrete indicators of Turkey's success, while the developed countries such as the US, the UK, and Japan contracted ranging between 3.5% and 9.9%."

*Writing by Yunus Girgin in Ankara