Turkey waiting for Public Private Partnerships's Law in Ukraine for more investments
Turkish construction companies are waiting for Ukraine’s concession law before taking on big infrastructure projects, says Burak Pehlivan, president of TUID, the Turkish Ukrainian Business Association at the Eastern Europe Real Estate Forum at the Fairmont Hotel.
Turkey Waiting for Public Private Partnerships
A public private partnership law will trigger big spending in highway construction, predicted, Burak Pehlivan, president of TUID, the Turkish Ukrainian Business Association.
Such a law enabled $150 billion in Turkish infrastructure construction from 1990 to 2015, he said. This helped Turkey’s economy quadruple during this period.
“In Ukraine, we hope a PPP concessions law will take effect in April 2018,” he said. “A concession law will open the door for Turkish construction companies, for Turkish real estate companies, to invest more in Ukraine.”
To date, he said, Turkish construction companies have carried out in Ukraine167 projects worth a total of $6 billion. Crossing the Black Sea, 600 Turkish companies have invested $2.5 billion in Ukraine.
Tarkan Kadooglu said many Turkish investors are waiting to see a real effort against corruption before they cross the Black Sea. (James Brooke) Pehlivan’s boss, Tarkan Kadooglu, flew in from Istanbul to address the gathering of real estate and construction executives.
“There are big opportunities here in construction of roads and big buildings,” said Kadooglu, who is president of Turkonfed, the Turkish Enterprise and Business Confederation, an association of 40,000 Turkish big, small and medium sized businesses.
Citing the new visa-free, passport-free travel regime between Turkey and Ukraine, he said he hopes that both countries will soon complete negotiations on a bilateral free trade pact.
In an interview, he said many Turkish investors are waiting, on the south shore of the Black Sea, for Ukraine to visibly cut corruption.
“Ukraine’s government should be more transparent, and there should not be any corruption,” he said. “The problems are not so big. But many Turkish investors are just waiting for government to increase transparency and diminish corruption.