Turkey FDI Declines

Foreign investment in Turkey decreased by 8% in the first half of 2017 compared with the same period of 2016, economy ministry data showed, aawsat reported. According to the ministry, Turkey received over $4.9 billion in net foreign direct investment during the January-June period this year. In the first half of the year, 2,429 new companies funded by international capital were established in Turkey while 93 domestic firms received capital from foreign participants from the wholesale, retail trade, property renting and construction sectors. As of June, some 40% of the nearly 55,639 companies that benefited from foreign funds or participation were linked to European Union states. According to the same data, direct investment from EU countries to Turkey rose by 61% year-on-year in the first half of 2017. Investment from the 28 EU states reached $2.72 billion between January and June, up from $1.69 billion over the same period last year, making up two-thirds of all foreign investment over the first six months of 2017.