Turkey plans to transform Istanbul into int''l financial ctr in 10 yrs 10/2/2009
ANKARA, Oct 2 (KUNA) -- Turkey said Friday it planned to make Istanbul an international financial center within 10 years through the boost of its capabilities in terms of human sources, buildings and technology.
ANKARA, Oct 2 (KUNA) -- Turkey said Friday it planned to make Istanbul an international financial center within 10 years through the boost of its capabilities in terms of human sources, buildings and technology.
The Turkish government has a vision to transform Istanbul into the region's prime financial center then into an international financial hub, deputy prime minister for economic affairs Ali Babacan told a news conference.
Babacan quoted a report by the union of Turkish banks which indicated that Istanbul, which has a population of some 17 million, has the capabilities of becoming an international center.
He said Istanbul has qualified manpower and the modern life style.
Istanbul's population has doubled over the past 10 years. Babacan said however there was a dire need for political stability in Turkey so it would have positive impact on economic performance, citing the government's bids to amend the constitution and reform the political system.
He also called for developing the infrastructure of Istanbul, strengthen the financial and legal atmospheres, improving the administration, facilitating tax regime and developing the legal system.
Babacan said there were technical teams working to achieving these objectives.
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