ISTANBUL, Sept. 28 (Xinhua) -- Turkish President Recep Tayyip Erdogan on Saturday highlighted his country's investment opportunities as Türkiye seeks to attract investors to strengthen its economy battered by high inflation and currency depreciation.

In a televised speech at the opening of a meeting of the Investment Advisory Council (IAC), Erdogan said Türkiye has entered a period marked by a reduced current account deficit, increased reserves, improved risk indicators, and controlled inflation.

"Recent growth, employment, foreign trade, and inflation data show that the economic program is working, with the share of international investors in private sector employment rising to 8.8 percent," he said.

According to Erdogan, Türkiye has become one of the leading destinations for international direct investments, with internationally funded companies accounting for about 31 percent of exports over the past 15 years.

"Türkiye is among the countries that adapt the fastest to the transformation process, thanks to its production capabilities, infrastructure, qualified human resources, and global integration," he said.

Türkiye has been grappling with rising inflation and a cost-of-living crisis over the past few years.

To address soaring inflation, the country launched an economic overhaul over a year ago.

Since June 2023, Türkiye has raised its key interest rate from 8.5 percent to 50 percent, tightening its monetary policy. As a result, inflation slowed to 51.97 percent in August, down from 85.51 percent in October 2022 and 75.45 percent in May 2024.

The IAC convened in Türkiye's largest city, Istanbul, on Saturday, gathering executives from around 20 multinational companies to discuss critical investment opportunities and strategies.

Established in 2004, the IAC brings together business leaders to offer insights and recommendations aimed at improving Türkiye's investment climate and enhancing its global competitiveness.

In July, Türkiye launched an ambitious international direct investment strategy to position itself as a leading destination for global investors, providing various incentives for 2024-2028. Enditem

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