American Business Forum in Turkey: We will establish Turkish Organized Industrial Zone in US

Ali Osman Akat, president of the American Business Forum in Turkey (AmCham) said significant financial institutions such as Exim Bank, World Bank, American Chamber of Commerce gave promises to strengthen the position of Turkish investors in the US
Wednesday, 29 May 2019 14:36

Ali Osman Akat, president of  American Business Forum in Turkey (AmCham) mentioned about the promises received from significant financial institutions in order to strengthen the position of Turkish Investors in the USA. Akat who spoke at an iftar event held by AmCham, mentioned about their goal to establish an Organised Industrial Zone in the USA.

Akat disclosed the details of the Industrial Zone in the United States (IZUS) plan. According to the plan the zone will be built on 500.000 decares of land. The zone will include all the units people will need such as production facilities, social and residential areas, fair center, administrative buildings, trade center for small and medium-sized companies, e-trade storage area, logistics center. Akat argued that Turkish entrepreneurs who invest in the USA will provide Turkey lobbying power stronger than other nations with this Project.

Akat continued his words: “If trade lobbying is correctly engaged, these 500 thousand people will completely cooperate by creating a trade and marketing network. The USA is producing one-fourth of the World and consuming one-fourth of the World. We need to take our share from this and increase our strength in the world.”

Ali Bayramoğlu, head of AmCham Advisory Board, stated; “We are initiating this project so that our investors with high potential may benefit the opportunities in US markets. They will understand when they get these results.”

According to data announced by the Central Bank of Turkey, the debts stock of Turkish private sector was 290.8 billion as of USD in March 2019. 72.1 billion USD of this debt has to be paid back until the end of 2019. Under these circumstances, how the funding of the IZUS project by Turkish investors will proceed seems uncertain.