Despite the slowdown in the second half of 2018, the Turkish economy rapidly recovered in the first quarter of 2019 thanks to its resilience and diversified industrial structure, and the positive momentum continued throughout the rest of the year. This was mainly because of Turkey’s long-term fundamentals, which are solid and strong enough to weather short-term disruptions. Trade wars between the US and China and the uncertainty surrounding Brexit remained as the most important headlines of the global economic agenda in 2019. While these may have negative effects on global growth and financial flows, it is important to remember that these uncertainties always bring new opportunities for developing countries. In 2019, we managed to minimize possible damage while capturing new opportunities. You may find some captions for the Investment Office’s 2019 activities. We believe that domestic and global conditions will support Turkey’s position to sustain a healthy growth and investment environment in 2020.