Innovation Key For Turkish Economy To Grow: Doğan Chair

Innovation and adapting to the digital world is the key for the growth of the Turkish economy in the coming years, Doğan Holding Chair Begümhan Doğan Faralyalı said on March 13 at the Uludağ Economy Summit.

"Turkey's companies' chief executives need to internalize and make big investments in innovation and digitalization, so our country can develop globally known brands and our economy can become one of the world's top 10" Doğan Faralyalı said.

The digitalization trend creates both challenges and opportunities for leaders across the world, she added.

"Companies that could not make even small steps on the road to digitalization and develop digital strategies will lose in the end" she said.

Doğan Faralyalı noted that digitalizing companies change not only their sector, but the whole ecosystem.

"Let's think about Google, which is an Internet search company that can also produce drones. The basis of digitalization is a rich culture of innovation … We need innovative companies to make our country have one of the biggest economies" she said.

"Turkey is currently ranked 54th in the Global Innovation Index of the leading international organizations and 64th in the Social Development Index. Our country is ranked 154th in the World Freedom of Speech Index and 72nd in the Happiness Index … Economically developed countries have much better results in such indexes … It is not possible for innovation to flourish if there is no fertile ground for liberties and freedom. In this vein, more freedom of speech and the resulting innovative culture are the key for all of us to growing our economy" she added.

(PHOTO) - Istanbul