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    Babacan: “The Law Is Passed, Foreign Capital Is Multiplied By Five”

    Hürriyet Haber
    08.04.2004 - 10:43 | Son Güncelleme:

    State Minister Ali Babacan drew attention that the number of companies with foreign capital, which were founded in the first half of 2003 when the law concerning foreign capital had just been passed, was below 2003.

    He also said, “However, the number of companies with foreign capital founded in Turkey at the second half of last year rose over one thousand.”

    Emphasizing that the growth up-to-now is one which is procured mainly by the increase of productivity, Ali Babacan said, “There is a significant amount of increase in productivity behind the growth of 5.9 per cent we achieved last year. In the following, we expect positive developments also in employment together with the maintenance of our growth with the same speed and same tempo.”

    He expressed that the unemployment ratio was high in Turkey and added that, however, this ratio was 9 per cent in EU, that higher ratios were observed in some candidate countries; for example it was around 20 per cent in Poland.

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