FDI inflow to Turkey up 36 percent


Turkey attracted $11.8 billion of foreign direct investment (FDI) during the first eight months of 2015, an increase of 36 percent compared to the same period for last year according to data released by the Central Bank of the Republic of Turkey.Speaking to Daily Sabah about the country's FDI performance during the first eight months of the year, Investment Support and Promotion Agency of Turkey (ISPAT) President Arda Ermut said that Turkey maintained its status as a "safe haven" despite the turmoil created by Syria, ISIS and the upcoming elections. "Having established itself as a safe haven for investors in the region, Turkey's investment appeal rests on the economic accomplishments of the past 12 years. As we observe from the FDI figures, the turmoil in some of our neighboring countries and upcoming elections did not deter foreign investors who have confidence in Turkey and its potential. We are optimistic about surpassing last year's FDI total." In August alone $1.9 billion was channeled into Turkey, the main recipient sector being chemicals, according to data from the country's central bank. The top recipient sectors in the January-August period lined up as manufacturing, financial services and energy, with 46 percent of the country's current account deficit in the given period financed by the FDI inflow.