Phl presents ‘wealth of opportunities’ for Turkish investors, says Ambassador Akyol

Speaking at THEPHILBIZNEWS Embassy Night Year 3, held at Hotel Okura Manila, Turkish Ambassador Niyazi Aykol said that he has been encouraging Turkish businesses to invest in the Philippines for its “wealth of opportunities” and the conducive business environment the Marcos government is creating in the country.. (Photo from THEPHILBIZNEWS)

By Veronica Uy

Turkish Ambassador Niyazi Evren Akyol is encouraging Turkish businesses to invest in the Philippines for its “wealth of opportunities” and the conducive business environment the Marcos government is creating in the country.

“The Philippines presents a wealth of opportunities for Turkish investors, particularly in sectors such as infrastructure, energy, and tourism. With the Philippine government’s commitment to fostering a conducive business environment and promoting foreign investment, we believe it is now the opportune time for Turkish businesses to explore the possibilities that abound in the archipelago,” the ambassador said at the recent THEPHILBIZNEWS Embassy Night Year 3 in Hotel Okura Manila.

“We regard the Philippines as a key country in its region, with its strategic location, dynamic and young population, and its fast-growing economy,” he told an audience of diplomats and local and international business leaders.

Ambassador Akyol said Türkiye and the Philippines celebrate the 75th anniversary of their diplomatic relations this 2024. He said common democratic values, shared aspirations for prosperity, and mutual commitment to peace and stability unite the two nations.

He noted the remarkable progress in economic relations between the two countries.

“On the economic front, although it is still below its potential, our trade volume is increasing rapidly over the last years, reaching 500 million dollars in 2023. As such, we have already surpassed the pre-pandemic levels and are looking forward to increasing this number in the near future. Our bilateral trade, cooperation in infrastructure development, transportation, energy, and defense industry are the most promising areas as we go forward,” he said.

The ambassador also noted the growing people-to-people connections, with an almost four-fold jump in the number Filipino visitors to Türkiye.

“From 2007 to 2023, the number of Filipino visitors to Türkiye has increased from 23,757 to 120,347. Turkish Airlines is now conducting direct flights to the Philippines 12 times per week, with plans to increase this number even higher in the near future. The number of Turkish tourists visiting the Philippines is also increasing rapidly,” he said.

“As Turkish Airlines is officially the airline flying to most countries, we are happy to strengthen the connectivity of the Philippines with the world. These connections not only enable closer people-to-people contacts but also will contribute to the enhancement of bilateral relations to a great extent,” he added.

Ambassador Akyol said Türkiye is one of the oldest and strongest contributors to the peace process in southern Philippines.

“[The Mindanao peace process is] now a shining example for the whole world, of a peaceful resolution of a historic conflict. We do hope it will inspire similar solutions to the multitude of crises and problems we face around the world today,” he said.

Looking ahead, Ambassador Akyol called for deeper economic ties and increased collaboration between Türkiye and the Philippines. He expressed confidence that by nurturing these partnerships, both nations can unlock new avenues for growth and prosperity, benefiting not just themselves but the entire region.

“Our nations complement each other in countless ways, offering unique products, services, and expertise that can be mutually beneficial. Whether it’s the world-renowned Turkish textiles, agricultural products, rich cuisine, or cutting-edge technology, there is much that Türkiye has to offer to the Philippine market,” said the top Turkish diplomat in the country.

“Türkiye is renowned for its strategic location at the crossroads of Europe and Asia, serving as a gateway for trade and investment. Similarly, the Philippines boasts a rapidly growing economy, fuelled by a young and dynamic workforce, making it an attractive destination for businesses seeking to expand their horizons, he added.


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