Gov’t vows to support local businessmen in foreign investments

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Turkish Vice President Fuat Oktay has called on Turkish businessmen to be “brave” when making investments in foreign countries, while vowing the government’s support for them.

“Turkey’s growth model is not based on investing in countries where the government goes and builds diplomatic relations. We have a growing economic model through the private sector. Our businessmen need to be more courageous,” Oktay said in an interview with private broadcaster CNN Türk.

“There are risks, of course, but the return potential is rising as well. Our task is to minimize the risks,” he added.

“If a businessman says that he is ready, for instance, to make an investment in Sudan or Niger and that there is a potential for agricultural investment there, the government could support these entrepreneurs,” he said.

“Let’s try a new model in which the two parties will win,” he said, recalling that these countries have extensive lands for agriculture in comparison to patchy agricultural lands in Turkey.

He recalled that the brands can only create products related to the scale of the land. “We can narrow the gap in Turkey,” he said. He pointed at opportunities of selling these products both to third world countries or bringing them to the Turkish market.

He pointed to investment potentials in South America, particularly mineral resources, agriculture and tourism in Venezuela and opportunities to cooperate with Cuba on biotechnology industry.

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