Turkey's international investment rises to $2.37bn

The manufacturing sector emerged as the largest recipient of international capital during January and February with $849 million.

Turkey's international investment rises to $2.37bn

World Bulletin / News Desk

Turkey received an international net direct investment worth $2.37 billion in the January-February period, an increase of 27.6 percent compared with the previous year.

The country received $1.16 billion in February and $1.21 billion in January, according to data released by Turkey´s Economy Ministry on Monday.

The ministry said the manufacturing sector had emerged as the largest recipient of international capital, with $849 million during the period.

A total of 81.3 percent of international investment was from EU countries.

The data indicates that 530 foreign-funded new companies were established in the first two months of the year, down from the 582 companies registered in the same period last year.

A total of 37,737 companies operate in Turkey with international capital as of February 2014, with 22,370 of them operating in Turkey's largest city, Istanbul, the ministry said.

'Optimistic outlook'

Turkey's capital Ankara hosts 2,362 companies and the country's largest sea resort of Antalya is home to 4,116 foreign companies.

The report also said that of the total number of foreign-funded companies in Turkey, 5,726 were German-funded and 2,661 were financed by the U.K.

Turkey's Investment Support and Promotion Agency (ISPAT) said Turkey will continue to attract international investments in the remaining months of 2014, specifically in the fields of energy, banking-insurance and finance as well as the automotive industry.

Turkey has also started to focus on investors from other countries. Some measures include a revamp of the tax regime -- to make it more appealing to manage investment funds from Turkey -- and encouraging foreign companies to start projects in less developed areas.

Analysts say sustainable growth, economic stability and the improvement of laws and intellectual property rights have created an optimistic outlook for Turkey.

Meanwhile, Turkey received an international direct investment worth $12.6 billion in 2013, a decrease of 4.1 percent compared from a year earlier.

Last Mod: 22 Nisan 2014, 10:14
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