Turkey attracted USD 11.8 billion of foreign direct investment (FDI) during the first eight months of 2015. Corresponding to a 36 percent increase over the same period of 2014, Turkey’s investment appeal remained strong despite the turmoil in some of its neighboring countries, and the upcoming general election.
According to data from Turkey’s Central Bank, in August alone, USD 1.9 billion has been channeled into the country, with the chemical sector being the main beneficiary. The top recipient sectors in the January-August period were respectively, manufacturing, financial services, and energy. In the given period, 46 percent of the country’s current account deficit was financed by FDI inflow.
Commenting on the country’s FDI performance during the first eight months of the year, the Investment Support and Promotion Agency of Turkey (ISPAT) President, Arda Ermut, said that Turkey maintained its status as a safe haven for foreign investors.
“Having established itself in its region as a safe haven for investors, Turkey’s investment appeal rests on the economic accomplishments of the last 12 years. As we can observe from the FDI figures, the turmoil in some of our neighboring countries and upcoming elections has not deterred foreign investors, who have confidence in Turkey and its potential. We are optimistic about exceeding last year’s FDI total,” the ISPAT President stated.