Recent Development
The Presidential Decree on Amendments to Certain Presidential Decrees was published on the Official Gazette on August 7, 2019 (“Decree“). The Decree revises and amends the authorities and duties of the ministries and departments within the organization of the Presidency, including the Ministry of Treasury and Finance (“Ministry“).
What Does the Decree Say?
The Decree grants the Ministry the authority to procure that the Treasury acquires stake in domestic and international companies (or establishes partnerships with the latter) upon the instruction of the President.
However, details on the Treasury’s participation such as whether there will be any criteria to determine which companies the Treasury will invest in, what those criteria would be if any, the investment amounts, and how the investments will be structured- have yet to be determined.
We will provide updates on this matter as developments occur.
