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The two sides discussed the significant opportunities that exist for participation in the Turkish economy and for increased activity on the part of GCC investors and financial institutions. This comes in conjunction with current efforts underway to strengthen bilateral relations between Manama and Ankara and following the conclusion on a Memorandum of Understanding (MOU) between the two countries.
Specifically, Bank members and Mr Erdogan addressed VCBank's strong interest in identifying and pursuing investment opportunities in the areas of venture capital and private equity investment across multiple industry sectors as well as the Bank's intended participation in unique real estate development projects. All areas in which the Bank intends to focus on a regional basis.
Commenting on the meeting, Dr. Ghassan Al-Sulaiman, Chairman of VCBank's Board of Directors, said,
"We were delighted to have met with Prime Minster Erdogan to discuss the significant opportunities that exist in the Turkish economy for institutions such as ours and believe that we have effectively identified a number of key areas in which to pursue investment activities in the near future. The growing strength of the Turkish economy, its position as a bridge between the Middle East and the EU markets and its significant commitment to attracting and supporting foreign investment give us great confidence with which to move forward. We believe there are numerous compelling opportunities that will be attractive to our GCC investor base and which will allow us the chance to develop and deliver unique investment products that can provide superior returns."
The Turkish PM and delegates welcomed the interest and commitment expressed by VCBank to investment in the Turkish economy and pledged the support of the Investment Office of the Prime Minister, which will serve to further strengthen VCBank's existing sourcing capabilities in the Turkish market and its pursuit of compelling opportunities in companies and projects that meet the Bank's investment criteria and overall objectives.
Established in October, 2005, it is VCBank's mission to capitalise on the unique opportunities that exist for venture capital based investment banking both in the GCC and MENA markets as well as other key neighbouring markets and states.
Specifically, the Bank intends to invest in fundamentally strong and undervalued finance-seeking small and medium-sized enterprises (SMEs) with revenue and market growth potential across a broad range of industry sectors in addition to unique themed real estate development projects.
Posted by Anne-Birte Stensgaard, Senior News Editor
