At his Government’s invitation, Dr. Argüden returned to Turkey in 1988 to lead the Privatization Program until 1990. It was during his tenure that the first foreign direct investments were attracted to the Turkish Privatization program, and the public offering of the Government’s shares in industrial enterprises helped the Istanbul Stock Exchange to flourish. In addition, the Turkish buyers improved the competitiveness of the privatized companies, and the Turkish investment banking industry was established.
