Fdı İn Turkey Reaches $8 Billion İn First Seven Months

Foreign direct investments in Turkey reached $7.9 billion in the first seven months of 2014, the country's Economy Ministry has disclosed.



The figures showed a 9.4 percent increase from the $7.23 billion invested in the same period last year, according to data released on Monday.



The manufacturing sector benefited most from foreign capital, with $2.5 billion, followed by the financial sector with $1.13 billion.



The ministry data showed 64 percent of foreign investments – almost $3.76 billion – came from the European Union.



Turkey's electricity, gas and water sectors – which were the largest recipients of international capital last year with $2.55 billion – saw FDI of more than $1 billion between January and July of this year.



Energy-hungry Turkey wants to increase its energy sources for its ever-growing economy.



Substantial investment



Turkey needs substantial amounts of investment for its energy infrastructure, on which the country relies for its inflow of foreign capital.



The data also indicates that 2,467 foreign-funded new companies were established in the first seven months of the year, up from the 2,306 firms registered in the same period last year.



A total of 40,021 companies operate in Turkey with international capital as of July 2014, with 23,790 of them operating in the country's largest city by population - Istanbul, the ministry said.



The report also said that, of the total number of foreign-funded companies in Turkey, 5,906 were German-funded and 2,727 were financed by the U.K.



The ministry also said that 13,814 foreign companies were in the wholesale and retail market, 5,570 in manufacturing and 3,598 in the construction sector.



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