Turkey may be safe harbor for investors in crisis: World Bank

Director of World Bank in Turkey, said that there was not any safe harbor for investors in anywhere in the world in the short term, but it was possible to say that there were some opportunities in Turkey.

Turkey may be safe harbor for investors in crisis: World Bank

A World Bank director saw on Wednesday some economic opportunities in Turkey.

Ulrich Zachau, the country director of World Bank in Turkey, said that there was not any safe harbor for investors in anywhere in the world in the short term, but it was possible to say that there were some opportunities in Turkey.

It was the right time for Turkey to develop reforms aiming to raise its long-term economic growth, Zachau said during an international conference in Istanbul on "Turkey: A Safe Harbor for Investors".

Zachau said that policies and reforms would be the best intervention to global economic crisis, and underlined importance of making investments that contributed to employment.

However, Zachau forecast some serious problems in some countries, including Turkey due to shortage of foreign loans soon and said Turkey's finance need would be higher in 2009 over 2008.

Zachau highlighted importance of creating employment, and said that Turkish government had not taken a significant step regarding labor reform in 2008 and therefore there had been a reduction in employment of particularly young people and women.

The World Bank country director enumerated short-time policies to be implemented to avoid economic recession as preserving employment, granting incentives, and protecting people under sensitive conditions.

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Last Mod: 11 Şubat 2009, 16:27
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