Financial Stability Means Stability in Manufacture

• 26.09.2018
• Archive

We all should accept that our economy, our manufacturing world is going through a tough period. The financing world which is the shareholder in manufacturing period should act in a more responsive and sensitive way. Unfortunately, some banks are trying to profiteer with their immoderate approaches. Within this tough period, nobody should remain silent against the banks which push the firms working properly around; and everyone should know that as Istanbul Chamber of Industry, we will not remain silent against this situation.

The financial stability which we always support is of great importance for our economy. Even the financial stability gives opportunity to make predictions. Especially, we are assessing the decisions which our Central Bank has taken within this scope, and we believe that these decisions will contribute to the re-establishment of the financial stability which is the most important tool of the predictions. For us, the industrialist, the essence of the matter is that: Financial stability means the stability in the manufacturing life.

We had opportunity to present our opinions concerning this matter to Mr. Fuat Oktay, the Vice President who we visited on 17 September as the ICI Board of Directors. While stating that we are very pleased to contribute to our country’s economy as the industrialists in the negotiation where we presented our success wishes for his new position to Mr. Oktay, we mentioned about the resource problem which we are going through. within this scope, we underlined the excitement in the industry sector which the indigenization and nationalization model in financing has created with the refreshment of the Development Bank. We expressed to Mr. Oktay that various important responsibilities fall to Eximbank concerning the financing problem which the industry sector is going through. We touched upon the importance of the role which Credit Guarantee Fund (KGF) undertook in the last year, and we mentioned about the advantages of maintaining the role of KGF with a vision directed to industry in the following period. We expressed that the accumulated VAT burden of the industrialists should be used as a financial instrument to the Mr. Oktay who said that they will scrutinize these subjects sensitively.

I want share that the first steps of one of the important decisions of the last terms were taken in the last month. One of the important subject which we undertook in this operation term as the Directors, was to help our industrialists to carry their most important problems to the agenda through the “Assembly Working Groups” where they will work. For this aim, we created Assembly Working Groups in 10 different areas, and these working groups started to realize their first meetings as you will read on the following pages. We believe that these meetings will contribute to the creation of solution oriented approaches.

Our Republic will celebrate its 100th year after 5 years. In the 95th year of the foundation of our Republic which is deep-rooted just as a plane tree and contributed to our society in numerous ways, I want to celebrate your 29 October Republic Day.

Erdal Bahçıvan
Istanbul Chamber of Industry
Chairman