Turkey’s Minister of Economy, Zayfer Caglayan, revealed FDI to Turkey showed no signs of slowing down despite Europe’s debt crisis, commenting: ‘Turkey’s position as a popular destination for foreign investors remains unchanged despite global uncertainties.’
According to the figures revealed by Caglayan, British investors formed the largest pool of overseas investment to Turkey bringing in 1.96 billion USD, closely followed by Austria with 1.42 billion USD.
Speaking of the progress Turkey has made in securing the growth of its economy against the global downturn, Caglan added: ‘Eleven of the eurozone economies are yet to return to their pre-crisis state. Despite the grim outlook in Europe, the continuation of FDI inflow to the country is a success on Turkey’s part.’
The figures, which cover January to July this year, show the manufacturing sector to have attracted the greatest investment. Meanwhile market confidence continues to grow for Turkish real estate, with BofA Merrill Lynch analysts recently reversing their negative stance on the sector on the basis of lower interest rates and increasing demand for new projects.
[Source: Invest in Turkey]