Turkish Industrialists and Businessmen’s Association (TÜSİAD) President Ümit Boyner said on Tuesday that an incentive package introduced by the government last month is expected to have a positive impact on the economy by contributing to the creation of mergers and acquisitions.
Speaking at a conference that aims to explain “how to cooperate via mergers and acquisitions to become a competitor,” Boyner noted that with the opportunities provided to investors in the incentive package -- which she defines as a strategic step in the medium term due to its comprehensive reforms -- the package highlights the importance of clustering in the business sector. “The package can only work well with the players joining forces and working efficiently. The package will also contribute to the existing mergers and acquisitions,” she added. According to Boyner, in today’s business world, the individualistic approach needs to be left aside and a more collective approach should replace it. He believes “a sustainable success can only be achieved by forming a balance between market and economies of scale.”
Meanwhile, İstanbul Stock Exchange (İMKB) President İbrahim Turhan said the Turkish stock exchange has shown great performance in 2011 and accumulated $15 billion with the contribution of acquisitions and mergers. Speaking at the conference, he said before the occurrence of the sovereign debt crises in 2009 there were many acquisitions and mergers planned to take place. However, due to the crises, these were all cancelled, causing a loss of $3 billion. He said these plans resumed and led to the rise of capital in the İMKB by $15 billion, making up almost three quarters of the loss at that time.