Turkey: Steps to be taken to strengthen capital markets

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ISTANBUL

The regulations announced in the new economic reform package will greatly contribute to the deepening of the capital markets, the head of a sectoral group said on Tuesday.

Tevfik Eraslan, chair of the Turkish Capital Markets Association, told Anadolu Agency that focusing on employment and production in economic reforms has a positive impact on Turkey’s needs.

“For the sustainable growth of the Turkish economy and directing the resources to technology-oriented and efficient areas, the sphere of influence of capital markets needs to be expanded and developed,” he said.

In addition to attracting savings for the capital markets, Eraslan said the investment environment should be strengthened, thus the foreign investment needed will come to the country.

“In terms of developing capital markets, the scheduling of a set of regulations in the reform package — such as easing and encouraging companies’ public offering processes, share and lending-based crowdfunding for innovative companies’ access to finance — is vital.”

Eraslan also said that the public offering process will be simplified and the costs for companies will be reduced thanks to regulations in the economic reform package, which will ease and encourage the public offering processes of companies.

As part of the new economic reform package announced by President Recep Tayyip Erdogan on March 12, a number of steps will be taken to strengthen Turkey’s capital markets.

According to the schedule announced by the Treasury and Finance Ministry, these steps are planned to be implemented by the end of the year at the latest.

*Writing by Yunus Girgin in Ankara

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