Skip Ribbon Commands
Skip to main content

Riyadh Chamber Warns Against Investment and Tourism in Turkey

Sunday 19 May 2019

The Chairman of the Board of Directors of Riyadh Chamber of Commerce Mr.Ajlan Bin AbdulAziz Al Ajlan said, “The Chamber received several communications and complaints from Saudi Investors in Turkey who are facing major problems and cases which threaten their investments". He drew attention to the fact that the official Turkish Authorities did not abide by its commitments to protect the investments. These investments are faced by several threats amid the deteriorated situation of the Turkish economy nowadays.

The official Turkish authorities have not fulfilled their duty to protect investments that are witnessing multiple threats. This is a result of the low currency rates and increased inflation. It was negatively reflected on the Saudi Investors there who were surprised by this harassment and disruption of their interests. Also, the pressure put on them to the extent of blackmail in some cases by some influential and backed up authorities there.

The Chairman of the Riyadh Chamber confirmed that it was unfortunate to see the Saudis face these actions. Mr.Alajlan points out to the sufferings of the Saudi tourists, including security harassment and cases of fraud and scamming, such as what happens now with the Saudi landlords In Turkey. The situation there reached its extent by preventing Saudis from entering their houses and failure to give them the property titles. Unfortunately, this deterioration and these harassments are repeated permanently without any serious action on the part of the authorities concerned there to protect the investors and the tourists.

He added, “in the face of these unfortunate harassments, Riyadh Chamber and based on what it received from the Saudi investors there warns against investment in Turkey at present." Also, he urges to benefit from the available opportunities, whether in the local market or in the fraternal and friendly countries which have stable economic and security conditions and are keen to attract Saudi investments. Also, the Chamber called on those interested in tourism outside the Kingdom to select the safe destinations and countries which are eager to facilitate the mission and protect the tourists and their rights.

Mr. Al Ajlan confirmed that Riyadh Chamber called the concerned authorities with investment in Turkey to play their role in protecting the rights of Saudi investors. Mr.Alajlan is stressing that what the Saudis are currently facing will make them lose confidence in investment and tourism in Turkey for long years to come.