JEDDAH – Saudi businessman Mohammed Shaman Al-Mugherah is set to invest $2 billion in northwestern of Bursa, in Turkey. A press statement Thursday carried by The Journal of Turkish Weekly said Al-Mugherah applied for a land allocation to the Governorship of Bursa.
He requested one million square meters land to build an enormous complex and thermal resorts and 100,000 square meters to construct an automotive spare parts factory.
Sahabettin Harput, the Governor of Bursa, said that there were plenty of foreign companies planning to make investments in Bursa.
We will release the development to the public in the coming days. All those kind of investments are beneficial for Bursa’s economy, Harput added.
Earlier, Turkey and Saudi Arabia authorized a MoU (memorandum of understanding) for assistance in the construction division, Turkish Economy Minister Zafer Caglayan said.
The Turkish Economy Minister also requested businessmen of Saudi Arabia to invest more in Turkey and sought the help of Saudi Arabia to quicken discussions in order to support an FTA (free trade agreement) with the GCC (Gulf Cooperation Council) at once.
On the field of the free trade agreement, Zafer Caglayan requested the Saudi Arabia to advocate the immediate the free trade agreement’s conclusion with the Gulf Cooperation Council.
The Turkish Economy Minister said his country extremely appreciate the contribution of Saudi Arabia in the procedure since the Kingdom is the instrument of development in the Gulf Cooperation Council.
He added that he brought up the concern in the discussions he had with the ministers of Saudi Arabia. – SG