Turkey predicted to attract USD 15-20 billion of FDI in 2013

Today’s Zaman - The International Investors Association of Turkey (YASED) released its semi-annual Barometer survey on Wednesday, announcing that the expectation of foreign direct investment (FDI) flow among 49 percent of the participants shows the figure to be around USD 15-20 billion in the first six months of 2013.

The survey, which was conducted on international companies having operations in Turkey, showed that 49 percent of the surveyed companies predict the economy will attract between USD 15 to 20 billion FDI flow during the year while 20 percent responded with an answer of USD 20 to 25 billion and 4 percent indicated the figure would be more than USD 25 billion.

In the survey, 48 percent expressed that economic growth would be stable in the first half as for 36 percent the growth would speed up. Also, 38 percent of them expressed that the global investment environment would improve and 57 percent responded that the investment environment would improve in Turkey. In addition, 46 percent said they will be making new investments in Turkey in the first half. Prediction on gross national product (GNP) growth was stated as 4.01 percent on average by 35 percent of the respondents.

When asked in which sectors they would be investing, the top three sectors were energy, financial services and health, respectively. Also automotive and parts, fast moving consumer goods (FMCG), food and agriculture and information communication technology were other sectors that they plan to invest in.

In a move widely expected to boost investor confidence in Turkey, credit rating agency Fitch upgraded the country to ‘investment grade’ late last year, highlighting the declining government debt burden, sound banking system, favorable medium-term growth prospects and a relatively wealthy and diverse economy.

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