Turkish Treasury and Finance Minister Nureddin Nebati made the headlines this week with a pledge to “take down” his country’s bureaucracy as he courted foreign investors in France. Though Turkey is no stranger to red tape, excessive bureaucracy is hardly the culprit impeding foreign investments that Turkey’s ailing economy badly needs today.
Addressing a meeting with international investors in Cannes on March 16, Nebati said the presidential investment office would extend all support to foreign investors and be their “one stop” in resolving snags. He continued, “What I dislike the most are those laws and regulations or the bureaucracy, which hamper investors. Let’s fight them together. We can take the bureaucracy down — the president is behind us, rest assured. We can change laws and regulations as well. We act expeditiously under the presidential system.”
