UAE Decided to Make 10 Billion US Dollar Investment in TurkeyTue, Nov 30, 2021 12:00 AM
After Qatar, Russia, China, and Bahrain, the United Arab Emirates officially announced that they are going to make billions of dollar investments in Turkey.
The currency depreciation in Turkey is attracting more and more international investors to the country. Besides reputable international investors, even the individuals shifted their focus on Turkey. Whether you are looking for a business opportunity or a holiday home, Turkey can be a great opportunity for you, especially these days!
Abu Dhabi Development Holding Officially Announced the Investments
Mohamed Hasan Al Suwaidi, Chairman of Abu Dhabi Development Holding, announced that the United Arab Emirates spared a 10 billion US Dollar fund to invest in Turkey in the following year. As a result of this investment, experts believe that a new era has begun in Turkey-United Arab Emirates relations.
President Erdogan hosted Abu Dhabi Prince Mohammed Bin Zayed Al Nahyan at his office in Bestepe, Ankara. The Turkish press named this incident as an important visit, which was completed with agreements reached in critical areas.
It was announced that the United Arab Emirates will increase direct investments in Turkey. The vast majority of these investments will be made in different sectors from energy to trade, healthcare to transportation. Two governments also signed an agreement for this purpose.
$10 Billion Investment Fund by UAE
Mohamed Hassan Al Suwaidi, Chairman of Abu Dhabi Development Holding, made statements to the press right after the agreements were signed by two governments. Mohamed Hasan Al Suwaidi announced that the United Arab Emirates has allocated a fund of 10 billion dollars to invest in Turkey in the following year.
He also noted that investments and plans will strengthen the relationship between the UAE and Turkey in the following years. Besides finalized agreements, both countries are looking for other opportunities to collaborate.
UAE and Turkey Are Working on a Swap Agreement
According to the rumors, Turkey, whose foreign exchange reserves have been the subject of discussion due to the exchange rate increase, is working on a swap agreement with the United Arab Emirates.
Considering that Central Bank of Turkey Chairman Sahap Kavcioglu was among those who welcomed Mohammed bin Zayed Al Nahyan, these rumors can be true. However, no information has been shared about any compromise in these swap negotiations too.
UAE’s Investment Announcement Attracted More Investors in Turkey
Only a week after the official announcement and signing of agreements, the number and volume of international investments in Turkey skyrocketed. Besides corporate investors, individual investors also started to look for opportunities in the country.
If you are looking for an investment opportunity in any part of the world, Turkey is the best choice these days! You may not want to miss your chance to benefit from this one-of-a-lifetime investment opportunity.