Gulf Investment Vehicle To Make Major Investments

A Gulf investment vehicle consisting of the Bahrain based Ithmaar Bank and Gulf Finance House and the UAE's Abu Dhabi Investment House have announced plans to invest at least US$150mn in Turkey's agricultural sector in 2009. Operating under an umbrella project called Vision3 which will invest in agriculture, infrastructure and hospitality, this deal has opened the way for almost US$9bn worth of investment opportunities, particularly in Turkey's agricultural sector. Such investments in the Turkish economy are sorely needed, particularly given the country's large current account deficit and the current financial climate.

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