Foreign direct investment in Turkey rises 21 pct to $13.2 billion in 2018

DAILY SABAH
ISTANBUL
Published 25.02.2019 12:40
Updated 25.02.2019 18:30
This file photo shows a money changer counting US dollar bills at a currency exchange office in central Istanbul, April 15, 2015. (Reuters Photo)
This file photo shows a money changer counting US dollar bills at a currency exchange office in central Istanbul, April 15, 2015. (Reuters Photo)

Turkey attracted nearly $13.2 billion in foreign direct investment (FDI) in 2018, an increase of 21 percent compared to the previous year, the head of the presidency's investment office said Monday.

The Netherlands and Azerbaijan were the top two sources of direct investments last year, Arda Ermut told a meeting in Istanbul.

Ermut was accompained by Zaur Gahramanov, the CEO of SOCAR Turkey which has invested more than $15 billion in Turkey over the last years.

"We want to receive 1.5 percent of total global direct investments. At first, we want to reach $18 billion (of FDI) then $20-25 billion," Ermut said.

In 2017, Turkey attracted $10.83 billion in net international direct investment, whereas this number was $13.34 billion in 2016.

Ermut stated that foreign direct investments on the global scale have decreased by 19 percent due to growing risks and protectionist policies. The increase in Turkey's FDI shows the potential of the country's economy and the trust of foreign investors, he added.

Ermut also noted that the share of Asian countries in FDI have increased from 12 percent to 27 percent, describing it important to diversify invesment sources.

Regarding reports on some automotive companies planning to leave Turkey, Ermut said that new players might enter the Turkish market in the upcoming period instead.

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