More than 380 greenfield FDI projects announced last year

ISTANBUL

Türkiye saw the announcement of a total of 383 greenfield foreign direct investment (FDI) projects, comprising 206 new initiatives and 177 expansions, in 2024, up from 177 projects announced in the previous year.

These announced projects were estimated to create 51,402 jobs and a Capex commitment of $14.1 billion, according to a report by the Investment Office.

Germany emerged as the most active investing country, leading in both the number of projects (67 projects, ranked first) and Capex ($3.3 billion, ranked first). While China ranked lower in number of projects (17 projects, ranked seventh), it committed the second highest Capex ($2.9 billion, ranked second), indicating a focus on large-scale, capital-intensive investments, the report said.

France (40 projects, $2.1 billion) and the United States (35 projects, $1.6 billion) maintained a strong presence, striking a balance between the number of projects and Capex, it added.

In 2024, the renewable energy and automotive OEM projects led high-value investments, whereas agro-food, industrial machinery, equipment and automotive components attracted many projects.

The strong interest of international investors in digital sectors such as software & IT services, consumer electronics, electronic components and business services sectors signaled a shift toward digital transformation and high-tech investments, the report said.

Renewable energy attracted the highest Capex, reaching $1.85 billion, ranked 1st, reflecting Türkiye’s increasing emphasis on sustainable investment projects, it added.

Automotive OEM ranked second with $1.78 billion in Capex, while automotive components ranked third by number of projects (26 projects).

The automotive sector remains one of the leading industries, reinforcing the country’s position as a major automotive production and export hub in the world.

Metals attracted 23 projects (ranked fifth) and committed $1.52 billion in Capex (ranked third). 

Transportation and warehousing received 22 projects (ranked sixth) and secured $503 million in Capex (ranked 10th). In the industrial machinery and equipment sectors, 28 projects (ranked second) were announced in 2024.

The report highlighted that technology-driven sectors are increasingly attractive, with software and IT services securing 25 projects in Capex at $1.06 billion, while electronic components attracted 21 projects and $1.14 billion in Capex.

The report also showed that a total of 95 cross-border M&A deals were recorded, with a disclosed deal volume of $3.4 billion across 45 deals in 2024.