5/23/2008

Foreign investment may rise to $30 bln

Turkish Daily News - Turkey has the potential to attract $10 billion more in foreign direct investment (FDI) in the coming years, an advisor to the Organization for Economic Co-operation and Development (OECD) said Tuesday. A $30-billion inflow of FDI in the coming years is realistic, said Charles Kovacs, who is also a consultant to Lehman Brothers Europe. “A country must decide how much FDI it wants to attract and build its regulatory framework accordingly. The growth in the inflow of FDI in Turkey is a major success story, but if regulations in Turkey were developed further, Turkey could attract a lot more in FDI,” he said. The Turkish economy has enormous growth potential, said Kovacs. “Turkey obviously has good economic potential. Turkey today has an economy of approximately $500 billion, and by the time the country is likely to join the European Union, its economy will have reached $1.5 trillion, depending, of course, on growth figures,” Kovacs stated.