The new Foreign Direct Investment Law clearly reflects Turkey's balanced and liberal approach to international investments. It is the ‘legal guide’, complete with precise explanations, to international investors with respect to their rights and obligations. This new Law guarantees that investors have the right to be treated as national companies and that they hold comprehensive investor rights. In addition to the new FDI Law, important amendments to various laws were also passed by the Parliament in 2003. This new legislation removed the screening and pre-approval procedures for FDI projects, re-designed the company registration process and made it possible to establish a company in a single day in Turkey, provided that all the necessary documents are submitted to the Trade Registry.