Multinationals See Turkey Data Law as Green Light For Investment

Turkey is set to allow international companies to move data on local customers out of the country, in a long-awaited overhaul of data protection rules that businesses say could attract billions of dollars in foreign direct investment.

A bill on the move, a copy of which was seen by Bloomberg, is being debated in the general assembly on Thursday, where President Recep Tayyip Erdogan’s ruling Ak Party and its nationalist ally the MHP have a comfortable majority.

The bill would allow companies to centralize data processing outside the country, helping to cut costs. The telecommunications industry stands to benefit ...