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    Mehmet Y. Yilmaz: Protest against investment in Istanbul is treason to the jobless!

    Hürriyet Haber
    12.10.2005 - 14:03 | Son Güncelleme:

    Sheik El Makum of Dubai is to make an investment of 5 billion American dollars in Istanbul. As In following media and public reaction to the announcement of this investment, it is clear to me that there are some who oppose it. We should criticize as strongly as we can the inherent racism contained in some of the opinions and protests which have come out in recent days.

    This project, which includes business centers, apartment complexes, hotels, shopping centers, and health complexes, will be an investment which will help turn the wider geography of Istanbul into an attractive center.
    I spoke with a friend of mine who has experience on big construction projects. He said that on an investment project of 5 billion dollars, it would be reasonable to calculate a 15% construction fee. Which means that during the construction period, which will last about 3-4 years, around 750 million dollars will enter the pockets of Turkish construction workers, architects, and engineers. It is estimated, my friends, that around 60% of the material for this project will be local material. Which means that around 3 billion dollars will be spent on construction materials in Turkey.
    Cement factories, decoration manufacturers, marble manufacturers, sand and gravel manufacturers, the iron and steel sector, glass makers, cable makers, and many other sectors which don't even come to mind right now will benefit from this all.
    And the creation of jobs`in these sectors means the work forces in these sectors will earn money. Which means in turn that corner stores, butchers, fruit sellers, and everyone who buys and sells goods will earn money.
    We should not allow the racist beliefs and judgements that we have hidden in the recesses of our minds to stop or slow down an investment like this.
    Those who protest against this investment should know that they are also working against the jobless people in Turkey.


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