11/29/2013

Turkey to keep attracting FDI in 2014 – ISPAT President

Hürriyet Daily News - Turkey will keep attracting foreign direct investments (FDI) in 2014, specifically in the fields of energy, automotive, banking-insurance and finance, according to the President of the Investment Support and Promotion Agency of Turkey (ISPAT).


"Some of the latest developments, mainly the meeting between Turkey’s Prime Minister Recep Tayyip Erdogan and Massoud Barzani, President of the Kurdish administration in northern Iraq, and the nuclear deal between Iran and western countries, have been seen very positively by foreign investors who plan to invest in Turkey..", he said.


PM Erdogan and Barzani lent their full support to the Turkish government's solution process on Nov. 16. Iran and six world powers clinched a deal on Nov. 24 to curb the Iranian nuclear program in exchange for initial sanctions relief, signaling the start of a game-changing rapprochement that would reduce the risk of some wider Middle East conflicts.


"Turkey will benefit most from such positive developments in terms of attracting FDI and increasing trade volume..", Ayci said. He believed the biggest FDI flow into Turkey would be in the energy sector in 2014, but he did not give any estimated figures for the next year.


Turkey attracted some USD 12.4 billion of FDI in 2012, according to data from the central bank. Ayci said he expects the same figures for the year-end. Some USD 8.7 billion were invested in Turkey by foreigners during the first nine months of the year, according to official figures.


"Europe's appetite in making investments has been weakening, but European companies will remain the leading foreign investors in Turkey, which also attracts FDI from the U.S., Japan, Malaysia, India and the Gulf countries," he said.

Turkey; turkey investment promotion agency; ispat; turkey fdi sectors; turkey fdi forecast 2014; ilker ayci

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