ECONOMY

Foreign direct investment in Turkey hits $765M in April

FOREIGN DIRECT INVESTMENT IN TURKEY HITS $765M IN APRIL

Turkey attracted $765 million in foreign direct investment (FDI) in April 2017, the Economy Ministry said Thursday.

According to a statement issued by the ministry, Turkey received $3.6 billion net of FDI between January and April this year, indicating an increase of 2 percent compared to the same period in 2016.

In the first quarter of 2017, over 1,750 new companies funded by international capital were established in Turkey, while more than 60 domestic firms received capital from foreign participants from the wholesale, retail trade, property renting, and construction sectors.

As of April, of nearly 55,000 companies that benefit from foreign funds or participation, 40 percent are linked to the EU member countries.

Financial intermediaries have received the most foreign direct investment with $1 billion, followed by the community, social and personal service sector -- $540 million.

The manufacturing industry received more than $480 million in FDI between January and April.

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