On the occasion of offering Turkey’s Wealth Fund to the Prime Minister’s Office, Himmet Karadag, deputy chairman of Wealth Fund Management Co., said that they could take place in financing of the domestic made car
Turkey’s Wealth Fund Management Co. (TVF) wants to take place in financing of domestic made automobile, according to the statement of Himmet Karadag, head of Borsa Istanbul and deputy chairman of Wealth Fund Management Co. Karadag said that they had submitted strategic plan of Fund to Prime Minister Office.
Karadag added, “The strategic plan which to be updated has been sent to the Prime Minister’s Office, and we will present our studies according to the agenda of the Council of Ministers and PM.”
Stating they would manage and improve the assets in the structure of the TVF, he said they would target to raise value of the assets by managing public assets better. Karadag continued; “The two licenses have been transferred to the TVF. The National Lottery and Turkey Jokey Club’s valuation works have been done as a draft bill. When they would be managed in a true way, we can earn liquidity over TL1 billion per annum. Other companies can be also managed in a professional way; so, our current portfolio can be doubled.”
Indicating they would manage negotiations for international cooperation, Karadag said; “We are negotiating with international investment banks. We negotiate ICBC, Temasek and Russian Direct Investment Fund.”
Let’s set up a fund for domestic made automobile
Highlighting they would like to take place in financing of the domestic made car, He said; “If a task is given we can take place in financing of the project. We said, if a duty falls on our shoulders, we set up a fund immediately. If we asked $1 billion is required, we can constitute $1 billion of fund immediately.”
Turkey’s Wealth Fund has been established with the aim of promoting development and increasing economic stability in Turkey by the efficient and productive management of public funds, increasing the value of existing public funds to build a stronger Turkey for future generations.