APRIL 30, 2002

Turkey gives more details...

Turkish automobile federation boss Mumtaz Tahincioglu is certainly keeping up media attention in thee country's bid to host a Formula 1 Grand Prix.

Turkish automobile federation boss Mumtaz Tahincioglu is certainly keeping up media attention in thee country's bid to host a Formula 1 Grand Prix. Tahincioglu has backing from Culture Minister Istemihan Talay but words are cheap and Tahincioglu admits that the project needs "the government's backing."

Turkey's economy shrank nearly 10% last year but Tahincioglu argues that tourism generated by the Grand Prix could help to boost the economy and Rifat Hisarciklioglu, the influential chairman of the Union of Chambers of Commerce, Industry, and Commodity Exchanges of Turkey (TOBB) and the Foreign Economic Relations Board (DEIK) says that the race is a good idea to try to attract foreign investment in Turkey in order to revive the economy.