Dünya – Foreign direct investments (FDI) in Turkey may reach USD 16 billion by the end of the year, according to Izzet Karaca, President of International Investors Association of Turkey (YASED) and CEO of Unilever Turkey. “Judging by the increasing trend observed in FDI figures, Turkey is likely to hit USD 16 billion in 2012.” Karaca said, pointing out the fact that Turkey received USD 6.5 billion in first 5 months of the year, an 11 percent increase over the same period of 2011.
“Despite the deepening debt crisis in Europe, the continent remains as Turkey’s principal source of FDI with an overwhelming 81 percent. Effects of the crisis in Europe on Turkey’s exports will be limited as the demand for exported goods are not likely to decline”, Karaca noted, adding that competitiveness levels of Turkish manufacturers’ were high. “Turkey is the major exporter of white goods to Europe and the leader in the British market”, he said.
Positive effects of the new incentive system will soon become apparent on the economy, Karaca said regarding Turkey’s new investment incentive scheme designed to reduce the country’s current account deficit. “In overcoming the current account deficit permanently, the incentive system will begin to pay off in the next 6-12 months following the materialization of export-oriented investments”, YASED President pointed out.
Being one of the fastest growing economies with a rate of 8.5 percent, Turkey attracted USD 15.7 billion of FDI in 2011.