Bugün – Foreign direct investment (FDI) inflow to Turkey is expected to reach USD 110 billion over the next 6 years, according to the head of the country’s official investment agency.
Speaking to a group of journalists in Ankara, the President of the Investment Support and Promotion Agency of Turkey (ISPAT), said that the uncertainties in the region did not deter foreign investors from investing in Turkey, which aims to attract USD 110 billion of FDI over the next 6 years.
The ISPAT President told the members of the press that he got in contact with the executives of multinational companies in Turkey to inform them over the latest political developments in Turkey.
“When investing in a new market, foreign companies plan 20-30 years ahead, taking into account many different factors and aspects. No investor would consider relocating a plant because of momentary turbulences..” Ayci said, adding that the Agency was working around the clock to promote Turkey’s investment environment in every corner of the world.
“ISPAT is in contact with sovereign wealth funds of Singapore and Malaysia. We plan to hold talks with these funds that control trillions of dollars..” the ISPAT President told journalists regarding the Agency’s upcoming investment promotion efforts.
“Turkey has drawn two thirds of FDI channeled into the Middle East. We aim to enter the Top 20 of FDI recipient countries by 2015 “ Ayci noted, adding that Turkey aimed for a total FDI amount of USD 110 billion over the next 6 years.
Speaking about latest foreign investments in Turkey, the ISPAT President gave Sumitomo Rubber’s USD 500 million tire plant project as a notable example that would create 2,000 jobs in the Central Anatolian province of Cankiri. The company plans to exports 80 percent of its production.
Turkey attracted USD 12.4 billion of FDI in 2012. The country is the 24th most popular investment destination in the world according to the United Nations Conference on Trade and Development’s (UNCTAD) ‘World Investment Report 2013’ report.