Turkey's FDI inflow hits USD 6.5 billion

Milliyet - With foreign direct investments (FDI) consistently picking-up, Turkey stands out as a safe haven for international investors, said Turkey’s Minister of Economy, Zafer Caglayan, as he announced the country’s FDI performance for the first five months of 2012. FDI inflow into Turkey reached USD 1.4 billion in May alone, while the January-May period hit a respectable USD 6.5 billion, showing an increase of 11 percent over the same period in 2011, according to Caglayan.

Despite the Eurozone debt crisis and ongoing global uncertainties, Turkey managed to attract USD 6.5 billion in FDI in five months, said the Minister, stressing Turkey’s appeal as an international investment hub. “EU countries remained as Turkey’s main sources of FDI in the January-May period with 78 percent of investments originating in European countries. In particular, USD 1.9 billion came from the UK, USD 1.2 billion from Austria and USD 500 million from the Netherlands,” Caglayan noted.

Turkey’s new investment incentives scheme, that went into effect last month, has aroused considerable interest amongst potential foreign investors, the Minister remarked, adding that the new incentives system will undoubtedly increase the amount of foreign investment channeling into the country.

Turkey attracted USD 15.7 billion of FDI in 2011, with an increase of 77 percent over 2010’s USD 7.5 billion.

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