TURKEY

Over 6,000 new companies launched in Turkey in May

OVER 6,000 NEW COMPANIES LAUNCHED IN TURKEY IN MAY

The number of new companies launched in Turkey was 15.12 percent higher year-on-year in May, the Turkish Union of Chambers and Commodity Exchanges (TOBB) said in a report released Friday.

Some 6,158 new companies started doing business in Turkey in the month which was also a 3.07 percent decrease compared with April 2017, according to the report.

TOBB's May figures showed an 8.20 percent month-on-month rise in the number of companies which went out of business, 792 in the month.

The report also showed that 583 foreign-partnered or foreign-funded new companies were established in May.

Some 174, or 28.8 percent, of foreign-partnered companies were founded directly by Syrian people or by Syrian nationals in partnerships.

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