UAE’s $51 Billion Pledge for Turkey Is Marred by Failed Deals
The United Arab Emirates’ pledge to invest $51 billion in Turkey is facing challenges two years after its announcement, as shifting economic conditions in Ankara complicate deal-making. The initial commitment, intended to strengthen economic ties between the two nations, has encountered roadblocks stemming from valuation disputes and shifting investment priorities. In 2021, the UAE announced its ambitious plan to inject substantial capital into various sectors of the Turkish economy, including finance, technology, and infrastructure. The pledge was seen as a major step in restoring relations between the two countries, following years of geopolitical tensions. However, since then, Turkey's economic landscape has evolved, with a strengthened lira, rising investor confidence, and an improved trade balance making local businesses more resistant to external acquisitions and partnerships. Turkish companies, buoyed by a rebound in economic stability, have adopted a firmer stance on valua...