The Investment Office held the 16th round of its “Türkiye Century Investment Receptions" in Brussels on November 15, in cooperation with the Embassy of the Republic of Türkiye in Brussels and the Brussels Representative Office of the Turkish Union of Chambers and Commodity Exchanges (TOBB), marking the 100th anniversary of the Republic of Türkiye.
The reception brought together high-level representatives and entrepreneurs from both countries at the TOBB Permanent Representation premises in Brussels under the theme “Türkiye: Your Resilient Partner" to promote Türkiye's investment environment and opportunities.
During his address, the Minister of Industry and Technology Fatih Kacır emphasized that Türkiye is an important link in the European value chains, contributing substantially to the EU's economic competitiveness, thanks to its strong research and innovation ecosystem, advanced industrial zones, vibrant entrepreneurship, and highly skilled workforce.
Pointing out that the political stability in Türkiye after 2002 and the continuous reforms aimed at improving the investment environment increased FDI performance, Kacır stated, "The number of companies with international capital in Türkiye soared to 80,000 in 2023, up from 5,600 in 2002. Türkiye's share in global FDI market rose to 1 percent after 2003, up from 0.2 percent in the 1990s."
Minister Kacır also stated that nearly 700 international companies in technoparks and R&D centers play a pivotal role in Türkiye's innovation ecosystem, and that “Türkiye has become a production and innovation hub in the past 21 years." “In the second century of our Republic, dubbed as the 'Türkiye Century', we intend to expand our knowledge-based digital economy and strengthen our innovative and entrepreneurial labor pool." Regarding the energy sector, Kacır noted, "We are also taking steps to facilitate our industry's access to green energy. With the incentives we provide for renewable energy investments, renewable energy sources now account for 55 percent of our total installed power capacity."
The Chargé d'Affaires at the Embassy of the Republic of Türkiye in Brussels M. Özgür Çakar noted that Türkiye recorded a remarkable growth rate in comparison to peer economies with a compound annual growth rate of 5.4 percent. Touching on bilateral relations, Çakar stated that as of 2022, around 676 Belgian companies operate in Türkiye and that bilateral trade volume between Belgium and Türkiye stands at USD 13.3 billion. He added that FDI inflows from Belgium to Türkiye hit USD 8.9 billion from 2002 and 2022, with FDI inflows from Türkiye to Belgium reaching USD 408 million during the same period.
Investment Office Vice President Zeynel Kılınç, for his part, underscored that Türkiye has ambitious targets, adding, “First, we intend to become one of the top 10 economies in the world. To achieve this, our main driving force is Türkiye's young, talented, and tech-savvy population, fast-growing entrepreneurial landscape, and eagerness to innovate. Second, Türkiye is set to become a global powerhouse. Our exports will reach USD 400 billion from the current level of USD 255 billion in the next five years. Last but not least, Türkiye's future will focus on sustainability and green growth. The country obtains 42 percent of its electricity from renewable energy resources and has recently announced a strategy paper to boost wind and solar investments by 5 GW by 2035. To reiterate one important fact, Türkiye ratified the Paris Climate Agreement in November 2021 and included its net zero target of 2053 in its latest climate policy roadmap."
Previous rounds of the Türkiye Century Investment Receptions took place in renowned cities including London, Paris, Milan, Vienna, Beijing, Singapore, Kuala Lumpur, Tokyo, Seoul, Washington D.C., New York, Abu Dhabi, Kuwait, Doha, and Madrid.