Last Updated on 28/11/2023
President Recep Tayyip Erdoğan took the stage at the prestigious Contractors Association Award Ceremony held in Ankara on Tuesday. He delivered a congratulatory address to 42 exceptional Turkish contractors that earned a spot on the esteemed “250 Most Prominent International Firms” list of 2022.
The global success of Turkish contractors Amid Challenges
President Erdoğan honored the achievement of Turkish contractors who secured places on the top 250 construction firms’ list. In fact, Erdoğan valued their efforts despite the turbulent global landscape. Besides, he recognizes their resilience and success in a time of adversity, emphasizing the pivotal role of the sector.
The president consider it a great success for Turkish contracting and consultancy companies to be included in the list with such high figures. He qlso focused on the importance of this achievement while global crises are ravaging the whole world, including developed countries.
Economic Vision and Resilience
Addressing the economic agenda, President Erdoğan outlined decisive measures aimed at bolstering the country’s macroeconomy. Moreover, he highlighted the commitment to implementing programs designed to fortify economic foundations. It also aims to alleviate the burdensome cost of living. Consequently. this would boost the contribution of Turkish contractors to the economic growth. Moreover, the president expressed his optimism about the effectiveness of these initiatives, projecting tangible results in the near future.
Navigating a Policy Shift
Following the May elections, President Erdoğan’s administration embarked on a notable shift from previous policies that relied heavily on interest rate cuts. This shift was accompanied by a marked decline in the value of the Turkish lira and a surge in inflation. The appointment of Mehmet Şimşek as economy minister and Hafize Gaye Erken as central bank governor signaled a return to more conventional policies. These policies are centered around employing monetary stimuli and interest rate hikes to counter inflation, stabilize the Turkish lira’s volatility, and rebuild foreign exchange reserves. Consequently, the global sucess of the Turkish conteactors contributed to this innitatives by bringing FDI flow to the country.
Path to Reform and Economic Outlook
The upcoming months hold significant promise for Turkey’s economic landscape. In fact, plans are in motion to unveil a comprehensive structural reform agenda in September. This comes in tandem with the introduction of a new medium-term economic program (MTP). These initiatives follow a vision of sustainable growth and development. Besides, they tend to shape Turkey’s economic trajectory for the foreseeable future. Besides, the remarkable global sucess of Turkish contractors will boost these initatives.
Global Competitiveness and Infrastructure Leaps
President Erdoğan emphasized Turkish contractors’ burgeoning influence in the global arena. Besides, he attributes this ascendancy to the country’s substantial investment in infrastructure development. Furthermore, the president lauded the forward strides Turkish contractors have made in international competition. In fact, they marked a testament to the country’s unwavering commitment to excellence.
Gratitude and Aspirations to Turkish Contractors
Conveying deep appreciation for the pivotal contribution of Turkish contractors to the country’s advancement, President Erdoğan envisioned a future of continued growth for the sector. He also envisioned a trajectory where the sector undertakes more expansive and high-quality projects, fostering sustained development. “I believe that as of next year, many more of our companies will be on these lists and represent our country,” President Erdoğan affirmed, displaying his unwavering faith in the potential of Turkish contractors on the global stage.
Conclusion
President Recep Tayyip Erdoğan’s address at the Contractors Association Award Ceremony in Ankara resounded with pride and optimism. As Turkish contractors garner international recognition, their journey is a testament to the country’s resilience, economic prowess, and commitment to shaping a future of enduring success.
