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Istanbul Fashion Week >>
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Bozcaada >>
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1st Istanbul International Opera Festival >>
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Open Air Museums in Turkey >>
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Current News
Foreign investment in Istanbul on the rise
July 25, 2010
Anatolia News Agency
The number of foreign investors in Istanbul rose 6.53 percent in the first half of the year on an annual basis, as the capital pledged rose 27.16 percent in the same period.
According to a report released on Sunday by the Istanbul Chamber of Commerce, or ITO, 1,403 foreign investors set up companies worth 255 million Turkish Liras between January and June. In the first half of the year, the figures were 1,317 and 200 million liras, respectively.
The ITO registry shows that in the number of foreign investors, Iran, Germany and Azerbaijan top the list. In regards to capital amount, the United Kingdom, Azerbaijan and the Czech Republic are the top three.
The sectors most attractive to foreign investors were electricity, electronics and information technologies. These were followed by banking-insurance, automotive and construction.
Evaluating the data, ITO chief Murat Yalçıntaş said investors are encouraged by Turkey’s rapid exit from the global crisis. “Turkey’s prudence in public finances is drawing investors in the eurozone to Turkey,” he said in a statement.
“As Turkey is lacking in household savings, policies that would guarantee a continued flow of foreign investment and financing are of key importance,” Yalçıntaş said. “In the first half, most of the investment was from European Union member countries.”
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