FDI in Turkey 

The structural reform process launched in 2003 has resulted in a new, dynamic and much more internationally integrated Turkey. The opening up of key markets such as banking, telecommunications, energy, tobacco, and agriculture to competition and projected privatizations are indicative of Turkey’s progress towards becoming an effective free market.

Turkey has decided to implement an active policy to improve its investment environment, as the following acts clearly demonstrate. Turkey has created the national Coordination Council for the Improvement of the Investment Environment (CCIIE), whose duties include rationalizing regulations concerning direct investments, developing policies that will increase the competitiveness of the investment environment, and preventing any bureaucratic problems faced by national and international investors. The government has also devised the international “Investment Advisory Board”, gathering together the CEOs of the world's top 20 companies in Turkey for a full working day with the Prime Minister and the State Minister for the economy. The Investment Advisory Board meeting always culminates in the announcement of a public recommendation list. These initiatives are clear steps taken towards enhancing the role of private industry in the economy.

A significant range of additional economic reforms has changed the global investment conditions in Turkey. The new FDI Law introduced by the Parliament in 2003 guarantees equal treatment for all investors, with no distinction made between international investors and locals. Turkey's economic power has drastically increased in the last six years.

By the end of 2008, the number of foreign banks in Turkey reached 17. In addition, the financial sector was the target of large amounts of FDI between 2004 and 2008. The total amount of FDI attracted by this sector totals USD 28 billion - Turkey attracted almost half of the FDI in the time frame mentioned above.