Turkey’s sovereign wealth fund plans to invest $15bn in industries including energy, petrochemicals and gold mining as part of a programme designed to reduce the economy’s vulnerabilities. The investor is focusing on those areas where Turkey constantly runs a deficit in foreign trade, according to chief executive officer Zafer Sonmez. The fund, known as TWF, is now beginning with the projects that will span over the next five years, he said. “2020 was a year of mergers and acquisitions for us,” Sonmez said in an interview on Wednesday. “This year is when the wealth fund starts direct investments.” The sovereign investor’s priorities highlight its role as the hub of the country’s post-pandem
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