Economy: Turkey fails to appeal to investors, WB says

25 October, 14:04

(ANSAmed) - ISTANBUL, OCTOBER 25 - Turkey ranks 71st out of 185 countries in the World Bank's 'Doing Business 2013 Smarter Regulation for Small and Medium-Size Enterprises' report, the same position it was in last year. "Turkey managed to maintain its ranking from the year before given that all the other countries in the sampling were able to make as many economic reforms as Turkey." One major area in which Turkey has made significant reforms is the field of construction permits, where the government has made dealing with construction permits easier by eliminating requirements to build shelters in all nonresidential buildings with a total area of less than 1,500 square meters. The government has also made it cheaper to receive construction permits, and the report estimates it is now four times easier to receive such a permit. "In addition, Turkey made enforcing contracts easier by introducing a new civil procedure law," read the report, as daily Hurriyet writes.

(ANSAmed).

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