Why are Turkish municipal elections important for European investors?

According to the international group Tasnim news agency, only 20 days Turkey’s municipal elections are still to be held. An election that is supposed to clarify the political status of several important castles. including Istanbul, Ankara, Adana and big cities that fell into the hands of Erdogan’s opponents in 2019. It will seriously affect the market and the economic situation of Turkey. The upcoming elections are important for foreign investors. They want to know what the investment capacity in the Istanbul Stock Exchange and other markets of this country will be like after the elections.

During the past days, groups of investors and owners of European financial institutions have traveled to Turkey and are meeting with political analysts, journalists, academics and economic activists. They all have one question in common: if Imamoglu and his comrades fail in Istanbul, Ankara and elsewhere, is it still possible to invest in Turkey or not?

Erdogan will stay until 2028 but…
One of the important points regarding the research and examination of foreign investors to transfer capital to Turkish markets, It is that only Erdogan’s political fate is not important to them. But the situation of the opponents is also important for them. Because they know very well that Istanbul, as a metropolis of 14 million people, is the economic capital of Turkey, and if in the last 5 years, this city was in the hands of Erdoğan’s party, now the mayor is under Akparty’s order, the steps of implementing the dream project of the president, i.e. creating a new sea crossing He had performed Black to Marmara and Aegean, and people like the queen of the museum, the mother of the Emir of Qatar, and many conservative families close to the ruling party, had earned billions of dollars.

In the past, work in sectors such as high-rise construction, mass building, land use change and the creation of new markets in Istanbul are all subject to the municipality’s opinion. So it is very important that this city is governed by which mayor. The same rule applies to the capital Ankara and three commercial cities – Izmir, Antalya and Mersin. These three Turkish figures
According to the information published in the Turkish media, European investors, in their field investigations for the feasibility of investing in Turkey the day after the upcoming elections, carefully They follow and evaluate the positions and views of 3 important political figures in Turkey: 1. Recep Tayyip Erdogan, the president of Turkey and the leader of the Justice and Development Party: The regulation of Turkey’s political and economic relations with Europe and America, the state of Turkey’s relations with Russia and China, and the amount of Arab countries’ capital entering or not entering Turkey, are all issues that are important to European financial and credit institutions, and they know very well that in every 3 cases, it is Erdogan who has the first and last words. 2. Mehmet Şimşek, Minister of Finance and Finance of Turkey: Mehmet Şimşek in the past months, to Instead of making golden promises about the possibility of lowering the inflation rate in Turkey, he focused more on concepts such as trying to leave the FATF list and valuing financial transparency, strict regulation of tax affairs, adherence to financial order and economic austerity, and supporting production. , investment and export has increased. All these are concepts that are extremely important for foreign financial and credit institutions. They want to know if Shimshek is staying or leaving. Because if Shimsek stays, the investment work in Turkey will be more guaranteed and his departure will be equivalent to jeopardizing the security of foreign capital in Turkey.