ECONOMY

EU investments in Turkey rise 42 percent from last year

EU INVESTMENTS IN TURKEY RISE 42 PERCENT FROM LAST YEAR

Investments from the European Union countries rose by 42 percent in January to April this year in Turkey.

The total investments in Turkey from European Union countries rose by 42 percent in January to April this year compared with the same period in 2016, reaching $1.7 billion.

According to data from the Ministry of Economy, the government's measures and incentives have managed to protect the Turkish economy in spite of the effects of the July 15 coup attempt and deteriorating ties with several European countries in the run-up of the April 16 referendum.

The data shows that the direct capital investment from EU member states rose from $1.2 billion in the January-April period of last year to reach $1.7 billion in the same four-month period of this year.

The top investor in Turkey was Spain, with a total of $961 million. Following Spain came Belgium with $209 million, Germany with $123 million, the Netherlands with $122 million, Austria with $114 million, the United Kingdom with $25 million, Italy with $22 million, France with $15 million, and $131 million from all other EU member states combined.

There was also a notable increase in the total investment from Asian countries. A rise of 140 percent was recorded between the two four-month periods this year and last year, with total investment increasing from $362 million to $870 million, while investment from the Gulf countries went up by 414 percent from $107 million to $550 million.

Out of a total 54,992 Turkish companies with international capital, 22,038 of these developed joint enterprises with EU countries. The highest number collaborated with German companies at 6,969, followed by the UK at 3,016 and the Netherlands with 2,744.

In the same period, foreign direct investments in Turkey increased by 2 percent and reached $3.6 billion, while real estate purchases totaled $1.3 billion.

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