9/19/2008

Foreign investors find Turkey a safe haven

Today’s Zaman - Recent Treasury figures show foreign companies operating in Turkey were able to transfer close to $27 billion to their countries of origin between January 2003 and July 2008, while investing a record amount of $65.4 billion in the same period as foreign direct investment (FDI) in addition to creating employment and enhancing the production capacity of the Turkish economy. Analysts see the transfer home of profit by foreign companies as a positive sign for the economy. "It's a win-win situation" said Nurettin Canikli, an economist and expert on finance. Canikli, who is also a member of Parliament from the ruling Justice and Development Party (AK Party), explained to Today’s Zaman that the record amount of transfer of profits will draw more FDI to Turkey. “The fact that new foreign companies are entering the Turkish market will stimulate Turkish production capacity,” he said.

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