Published On: Fri, Mar 8th, 2019

Foreign Direct Investment Inflows to Turkey increase substantially in 2018

Foreign Direct Investment Inflows to Turkey increase substantially in 2018

Despite fluctuations in Turkish lira as well as economy Turkey enjoyed a considerable increase in FDI (Foreign Direct Investment) inflow in 2018. Concerned figure totaled up to US$ 13.2 billion corresponding to an increase of 14 percent which was above expectations, given the economic challenges incurred last year. This performance has certainly pleased the administration as it shows there was no decline in investor appetite in Turkey.

Turkey’s Investment Office held a press conference together with SOCAR Turkey to evaluate FDI figures in 2018 and expectations for 2019 on which occasion President Arda ERMUT made a speech noting some important points about the performance of the country. SOCAR Turkey’s Star Refinery is known to be one of the largest industrial investment projects in Turkey and the largest single site investment in the country.

The president of the office noted that at a time when the total global FDI suffered a considerable decline in 2018, the increase in Turkey’s annual FDI performance pointed to an important achievement. He went on to say “This achievement of Turkey has once again showed it is a reliable country globally thanks to its solid economic fundamentals.

Mr. ERMUT also said, “We expect to see a further increase in FDI into Turkey in 2019 for following reasons such as an improving global economy and the end of the recession concerns in Europe. It goes without saying Turkey’s transition to the executive presidential system will also contribute in this direction as it will strengthen the political stability in Turkey, enabling continuation of economic reforms.

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