Turkey’s FDI target over next five years is USD 110 billion

Turkish administration officials have stated that Turkey targets to draw a total FDI (foreign direct investment) figure of USD 110 billion over the next five years.

This statement was made by Ilker Aycı, the President of the Investment Support and Promotion Agency of Turkey (ISPAT) who spoke to the press following a meeting attended by the executives of 15 global companies operating in Turkey.

İlker Aycı also expressed that they had asked Turkish nationals holding managerial positions in multinational companies to take an active role in bringing in more investments from their respective companies” and added that many multinational companies preferred to transfer their Turkish executives abroad after a successful performance in Turkey”

ISPAT President was also quoted to say that Turkey had left Eastern Europe behind in attracting FDI, and the country had received over USD 9 billion of foreign investments in the first 7 months of 2012 which is certainly a “better than nothing” performance given the global crisis prevailing in Europe mainly.

Stating that Turkey has left Eastern Europe behind in attracting FDI, ISPAT President said that the country has received over USD 9 billion of foreign investments in the first 7 months of 2012.

It is known that Turkey is favored by many global/foreign companies as the right alternative for investments due to its dynamic economy, strategic location and high productivity combined with lower costs compared to Eastern Europe.

In fact, US giant 3M has recently announced they would realize a USD 500 million production plant investment project in Turkey.
As for the FDI figures over the previous year, Turkey attracted USD 15,9 billion worth of foreign direct investment in 2011.

15.10.2012
BTT