Number of foreign businesses in Turkey hits 22,505 in June

Today's Zaman - The number of foreign companies operating in Turkey reached 22,505 in June, according to data issued by the Turkish Undersecretariat of Treasury. Of the 22,505 foreign businesses in Turkey, 17,725 were newly established, while 4,216 are subsidiaries of other companies and 564 are branches of international companies. Some 54.7 percent -- 12,312 -- of all foreign companies in the country are from the European Union. German companies take the lead in the list of foreign businesses in Turkey with 3,852, while UK companies follow with 2,123, and some 1,723 enterprises are from the Netherlands. These are followed by Iran with 1,089 companies and the US with 974 companies. Excluding those from the three countries in the top five, the number of companies from the EU is 4,605. The Turkish market also has 3,823 companies from the Middle East. Canada, China and Latin American countries have the fewest number of companies operating in Turkey. The number of Chinese companies doing business in Turkey is 356, while 144 companies from Canada operate in the country. With regard to fields of operation, the majority of foreign companies in Turkey are in the retail business, followed by manufacturing and real estate. Some 6,638 are in retail, while 3,941 operate in the manufacturing sector and 3,645 work in the real estate business. Apart from these, the other fields that foreign companies operate in are transportation, communications, construction and hotel management. Foreign businesses are most commonly found in Istanbul, while Antalya and Ankara also host many foreign companies. Istanbul is home to some 12,278 foreign businesses, while there are 2,854 in Antalya, and 1,488 in Ankara.