According to the World Investment Report 2017, prepared by the United Nations Conference on Trade and Development (UNCTAD), Turkey has noticeably increased foreign direct investments (FDI) over the last 15 years, attracting USD 12.3 billion in 2016 alone. The FDI inﬂows reﬂect the country’s diversified industrial structure, with manufacturing accounting for around half of the total FDI. The report also highlighted the reforms that have been implemented and the incentives that have been introduced in Turkey in recent years to attract investments, particularly incentives in R&D and those granting citizenship to foreigners under certain eligibility conditions.
According to the report, Turkey cemented its position as the most active country vying for FDI inﬂows in 2016 as it signed seven international investment agreements in the area of mutual encouragement and protection of investments. Canada, Morocco, and the United Arab Emirates followed Turkey with four international investment agreements each. The report goes on to mention that a total of 37 new international investment agreements were concluded in 2016, of which 30 were bilateral investment treaties and seven were treaties with investment provisions.