World Economy

Turkey Offers Saudi Investors Citizenship

Turkey Offers Saudi Investors CitizenshipTurkey Offers Saudi Investors Citizenship

Turkey is planning to offer citizenship to Saudi investors, Turkish Deputy Prime Minister Ali Babacan said here on Sunday while addressing the first consultative meeting of the G-20 business sector at the Jeddah Chamber of Commerce and Industry (JCCI).

He said Turkey already has a law that permits Saudis to own real estate in the country. Foreign investment in Turkey in this sector has exceeded $4 billion, Albawaba quoted Babacan as saying.

Minister of Finance Ibrahim Al-Assaf congratulated Turkey on the assumption of the G-20 presidency this year, saying, “I renew my support for the three priorities set by the presidency, namely: ‘implementation’, ‘investment’ and ‘comprehensive growth’ in addition to the three foundations on which ‘Business Group’ (B20) will build its work: ‘continuity’, ‘comprehensiveness ‘ and ‘coherence’,” the finance minister said, adding that his country will be an active participant in the work to achieve this excellent vision.

He said Small and Medium Enterprises (SMEs) are the biggest source of jobs, yet their potential has not been properly tapped.

Al-Assaf told the gathering: “We have a strategy for growth accompanied by an investment program. We intend to continue this program despite a drop in oil price. We have also taken measures to support SMEs and enabled them to obtain financing as we have continued to invest in education, health, employment and other social programs.”