FDI in Turkey surges by 50 percent to $4.2 billion

FDI in Turkey surges by 50 percent to $4.2 billion

ANKARA - Anadolu Agency
FDI in Turkey surges by 50 percent to $4.2 billion

Foreign direct investment in Turkey has reached $4.2 billion in three months. HÜRRİYET photo

Foreign direct investment in Turkey reached $4.2 billion in the first quarter, rising almost 50 percent, the Turkish Economy Ministry has announced.

The figures showed a 49.6 percent increase from the $2.7 billion invested in the same period of
last year, according to data released on May 22.

The manufacturing sector benefited the most from foreign capital with $1.04 billion, and the energy sector followed with $808 million with 61.9 percent of foreign investment, of which almost $2.6 billion came from the European Union.

According to the ministry’s data, 267 new foreign-funded companies were established in March 2014, which adds to the 38,116 companies with international capital operating in Turkey.

International direct investment to the country reached $1.2

billion in January, $1.5 billion in February and $1.4 billion in March of 2014.

According to Turkey’s Investment Support and Promotion Agency, the country should continue to attract international investments, specifically in

the fields of energy, banking-insurance and finance during the rest of 2014. In 2013, the FDI in Turkey dropped 4.1 percent from the previous year amounting to $12.6 billion.