Economic transformations experienced in 1980’s, brought a new era for the global economic market. During this period, privatization took the most significant and indispensable part in the agenda of most countries. Privatization, the most important instrument of the free market economy, was always on the agenda in Turkey.
In Turkey, privatization not only aims at minimizing the government’s role in economic activities and mitigate the financial burden of state economic enterprises on the national budget, but also at developing the capital market and directing these resources to new investments.
Procedures of privatization are determined in Law No. 4046 on Privatization Practices, which aim at increasing economic efficiency and decreasing public expenditure. However, court judgments have been decisive in the determination of privatization procedures. Further, competition law also plays an important role in privatization practices.
In order for privatization to be implemented in compliance with the law and procedures, relevant laws, subordinate legislation and court judgments are required to be observed. Our attorneys at law operating in this field are knowledgeable at each stage of the privatization process, such as working principles of Privatization Administration, preliminary stages of bidding, application for approval of Competition Authority.
Our office provides legal consulting services to clients, with respect to all stages of privatization including the preliminary stage of bidding in privatization procedures and applications to the Competition Authority.