A Presidential Decree adopted on and effective from 14 October 2020 establishes the Industrialization Executive Committee and enables it to, among other functions, "take measures to prevent any changes in the equity structure of companies in favor of foreigners that are critical for the country in terms of national security and the continuity of domestic production." (Global Trade Alert) The companies or categories of companies which are considered critical are not specified in the Presidential Decree, nor are any procedural aspects of the control to be exercised by the Committee.
"ARTICLE 2- (1) This Presidential Decree covers the structure and activities of the Industrialization Executive Committee to be established for the purpose of developing domestic production and technological capabilities, and the works and transactions to be carried out within this scope.
[...]
ARTICLE 4 - (1) Under the chairmanship of the President, the Committee consists of the Vice President to be appointed by the President, the Minister of Industry and Technology, the Minister of Treasury and Finance, the Minister of Commerce and the Head of Strategy and Budget. If the President deems it necessary, representatives of institutions and organizations related to the agenda may be invited to the Committee meetings.
(2) The Committee convenes upon the invitation of the President. The meeting agenda is determined by the President.
(3) The duties and powers of the Committee are as follows: [...]
e) To take decisions regarding the changes to be made in the partnership structures of companies that are critical for the country, which may jeopardize the continuity of domestic production and national security.[...]" (Presidential Decree on Industrialization Executive Committee (No. 68 of 14 October 2020), Articles 2 and 4 [google translation])
Presidential Decree on Industrialization Executive Committee (No. 68 of 14 October 2020), Articles 2 and 4
[<a href="https://www.mevzuat.gov.tr/mevzuat?MevzuatNo=68&MevzuatTur=19&MevzuatTertip=5">Decree</a>],[<a href="http://www.gta-dev.globaltradealert.org/intervention/82800/fdi-entry-and-ownership-rule/turkey-introduction-of-a-new-legislation-on-investment-protection-and-local-sourci">Other</a>]