Turkey breaks 101 month-record in foreign direct investments


International direct foreign investment entries into Turkey were at a 101 month-high with $3.4 billion in July, according to an Anadolu Agency report released on Monday and based on data from the Ministry of Economy.This number was also the highest since the period before the 2008 global crisis, when foreign direct investments were at $6.45 billion in January 2007.Within the January – July period, foreign direct investments increased by 22.1 percent compared to same period last year and reached $9.71 billion. Meanwhile, capital entries of foreign investors through their new or existing companies and shares in domestic companies were $3.06 billion, of which $2.2 billion were carried out through activities of financial intermediary firms.Speaking to Daily Sabah about the latest trends concerning foreign direct investment (FDI) into Turkey, Investment Support and Promotion Agency of Turkey (ISPAT) President Arda Ermut said finance and banking have always been strong performing sectors when it comes to foreign investments."FDI levels into Turkey have been relatively stable despite the global drop and the turmoil in some of our neighbors. Turkey, by and large, remains a beacon of stability in the region and the first address of foreign investors as highlighted by UNCTAD's latest data on FDI inflows around the world. Emerging as the number one recipient of FDI in West Asia, Turkey also rose in rank globally, jumping four spots to 22nd in the global FDI league in 2014," he said. "The FDI figures for the month of July may be the highest in recent times, but one must take into account that Turkey's financial services sector has been drawing substantial amounts of foreign capital for years now. This large sum reveals that the finance and banking sectors are as lively as ever and very much a hotspot for foreign investors," he added.