Government support saved major Turkish companies from Corona

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Participants in the 24th International Business Forum appreciated the efforts of the Turkish government in providing the necessary support for the resilience of companies in the face of the negative effects of the outbreak of the Corona epidemic.

And they said, during the discussion sessions that took place, under the title “Coexistence with Covid 19 and the continuity of economic life”, on the sidelines of the “Musiad Expo 2020”: “Without government intervention, major companies in Turkey would have collapsed due to the repercussions of the Corona crisis.”

On Saturday, the activities of the “Musiad Expo 2020” exhibition, in its 18th edition, were concluded in Istanbul, Turkey, which lasted for 4 continuous days, amid strict preventive and precautionary measures to protect participants from the Corona virus.

More than 190 companies from various sectors around the world participated in the exhibition, organized by the Turkish Association of Independent Businessmen and Industrialists “Musiad”, according to data obtained by “Arabi 21”. It was attended by Turkish President Recep Tayyip Erdogan.

“The private sector has been greatly affected by the pandemic and has threatened many large companies with bankruptcy, and had it not been for government intervention, it would not have been able to withstand this crisis, which has created fears of an increase in unemployment rates,” said Karam Elkin, head of the economics department at Turkey’s Medipol University.

He added: “The Turkish government is still working on corrective measures to pull the private sector and companies out of the crisis without controlling it to keep it protected from the effects of the virus, and this is what distinguished Turkey from Europe, which relied on the market can correct the situation by itself.”

Read also: What is Turkey’s message about organizing “Musiad Expo 2020” under the weight of Corona?

He stressed that the world is facing a major challenge, which is the public debt on countries and its impact on global production, calling on the leaders of the upcoming G20 summit to be held in Saudi Arabia for the need to reach quick and effective solutions to face the global economic downturn.

Alkin called on presidents and officials to implement more corrective policies to reduce global market losses without compromising the lives of ordinary citizens and not to take any measures that would harm the poor.

Alkin urged the industrialized countries not to stop the wheel of the economy because of the harm that this causes to the people, noting that electronic commerce will play an important role in the future in Turkey and the world with the increasing numbers and changing working methods that are increasingly going to work remotely.

The head of the Department of Health Sciences at Sabahattin Zaim University, Muhammad Bolt, called for the necessity of adapting and adapting to new conditions in all parts of the world.

He stressed that the Corona pandemic has pushed the world to seriously rely on e-commerce and cross-border technical and technical solutions.

In the context of his presentation of practical solutions in the face of the negative repercussions resulting from the pandemic, he said that the real solution lies in adopting foundations drawn from the Islamic economy that can address the obvious gaps in the global economy.



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