TEPAV/SAK: “Independent Administrative Authorities Characterize Policy Stability” Stressing that policy stability is of key importance for foreign investors, Sak criticized the recent arrangements introduced via decree.
ISTANBUL- TEPAV Director Prof. Güven Sak stressed that policy stability characterized by independent administrative authorities was of key importance for foreign investors.
At the 13th Energy Arena held in Istanbul, Sak delivered a speech titled "How to Assess Energy Security in 2011." Addressing the energy security issue in the context of legal security and supply security, Sak maintained that the former was the prerequisite. Emphasizing that at the heart of legal security lay the domination of rules, he said, "the domination of rules is of critical importance for investors particularly in industries like energy in which investments pay off in the long term."
Stressing that policy stability is of key importance for foreign investments, he stated that "Independent administrative authorities characterize policy stability. Technical matters should be executed by independent committees. The new decree practices have blurred the technical-administrative distinction."
Sak accentuated the fact that energy policy cannot be written independently and highlighted the importance of foreign policy, environment policy, industrial policy and regional development policy in this respect.
