The leader of Turkey’s main opposition party on Thursday ridiculed the government’s efforts to attract foreign investment, saying the finance minister should use images of businessmen being escorted by police to pitch the country to investors, in reference to the brief detention of two senior executives of Turkey’s leading business association on Wednesday over their criticism of the government, the Velev news website reported.

Republican People’s Party (CHP) Chairman Özgür Özel made the remark after the chairman of the Turkish Industrialists and Businessmen’s Association (TÜSİAD) and the head of TÜSİAD’s advisory council were detained and later released under judicial supervision following their criticism of government policies.

Özel said Finance Minister Mehmet Şimşek, who frequently travels abroad to assure investors of Turkey’s economic stability, could now simplify his presentations.

“He might as well reduce his presentation to a single slide,” Özel said during a joint press conference with Workers’ Party of Turkey (TİP) leader Erkan Baş.

“He can show the photo of the TÜSİAD chairman being held by two police officers and say, ‘This is how favorable the investment environment in Turkey is.’”

The detentions came after President Recep Tayyip Erdoğan publicly lashed out at TÜSİAD for its recent critical statements on the rule of law and economic management. Speaking at a parliamentary group meeting of his ruling Justice and Development Party (AKP) on Wednesday, Erdoğan accused the organization of overstepping its role, declaring, “In the new Turkey, you will know your place. If you are a business association, you will learn to act like one.”

Hours later, TÜSİAD Chairman Orhan Turan and High Advisory Council Chairman Ömer Aras were taken into custody on accusations of “attempting to influence judiciary” and “publicly spreading false information.” Both were escorted by police to the İstanbul Chief Public Prosecutor’s Office, where they were questioned for hours before being released under a travel ban.

TÜSİAD’s warning and Erdoğan’s reaction

TÜSİAD, Turkey’s most influential business group, had remained largely silent on political issues in recent years, wary of government retaliation. However, at its general assembly on February 13, Aras voiced concerns about judicial independence, economic instability and democratic backsliding.

“Elected mayors are being removed from office and replaced with trustees,” he said. “A political party leader is first subjected to an investigation and then arrested on different charges. A mayor is investigated just minutes after making a speech. Journalists who publish expert opinions are detained, and their editor-in-chief is arrested. Newly graduated lieutenants are expelled from the military. This rapid succession of incidents has created anxiety and undermined trust in society.”

The next day, the İstanbul Chief Public Prosecutor’s Office launched an investigation into Aras. Following Erdoğan’s speech on Wednesday, Turan was also implicated, with prosecutors arguing that his remarks at the general assembly had the potential to disrupt public order.

The government’s response sparked swift criticism from opposition leaders. Özel described the detentions as “a warning to all of Turkey” and an attempt to intimidate business leaders into silence. “The opposition was already paying the price; now it’s TÜSİAD’s turn,” he said.

Future Party Chairman Ahmet Davutoğlu also condemned the detentions, calling them a sign of “irrationality” within the government. “The president targets, and the judiciary executes, is that it?” he wrote on social media. “With the mindset of ‘I did it, so it’s done’ and the arrogance of ‘I will detain every dissenting voice,’ you are not governing the country; you are making it ungovernable!”

Business leaders defend their remarks

Turan and Aras, both prominent figures in Turkey’s business community, rejected the allegations in their court statements.

Turan argued that his ability to travel was crucial for his business, saying he oversees exports to nearly 80 countries. “I frequently travel internationally, often accompanying our minister of trade,” he said. “My address is known, I am a businessman. I request the rejection of the prosecutor’s request for a judicial supervision measure banning me from leaving the country.”

Aras, a veteran banker who has worked in the sector for 38 years, insisted that his speech had been mischaracterized. “I was trying to express the general concerns of society,” he said. “I discussed topics such as education policies, the rule of law, economic measures and women’s rights. I did not provide any misleading information in my speech.”

TÜSİAD itself stood by its leadership, releasing a statement late Wednesday reaffirming its commitment to democracy and the rule of law. “Sustainable economic development is only possible with the rule of law that embraces a participatory democracy based on human rights,” the group said.

The detention and questioning of TÜSİAD executives come as Turkey attempts to attract foreign investment to stabilize its struggling economy. Minister Şimşek, a former Merrill Lynch economist appointed by Erdoğan in 2023 to restore investor confidence, has been holding meetings with global financial leaders, pitching Turkey as an attractive business destination.

However, analysts say the detention of business executives over their critical remarks send the opposite message. Özel warned that such incidents would only deepen Turkey’s economic troubles. “That photo is probably the last thing Mehmet Şimşek would want to be associated with,” he said. “No one wants to invest in a country where there is no legal security, no property security and no freedom of expression.”