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FDI in Turkey Declines by 8 Percent | ASHARQ AL-AWSAT English Archive 2005 -2017
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The first Turkish high-speed train arrives at Pendik railway station, in Istanbul, during the high-speed train opening ceremony on July 25, 2014 (AFP Photo/Ozan Kose)

Ankara- Foreign investment in Turkey decreased by 8 percent in the first half of 2017 compared with the same period of 2016, Economy Ministry data showed.

According to the ministry, Turkey received over $4.9 billion in net foreign direct investment (FDI) during the January-June period this year.

In the first half of the year, 2,429 new companies funded by international capital were established in Turkey while 93 domestic firms received capital from foreign participants from the wholesale, retail trade, property renting and construction sectors.

As of June, some 40 percent of the nearly 55,639 companies that benefited from foreign funds or participation were linked to European Union states.

According to the same data, direct investment from EU countries to Turkey rose by 61 percent year-on-year in the first half of 2017.

Investment from the 28 EU states reached $2.72 billion between January and June, up from $1.69 billion over the same period last year, making up two-thirds of all foreign investment over the first six months of 2017.

The Netherlands topped EU countries in the rate of investments carried out in Turkey.

While investment inflow from the Netherlands increased 104 percent from $403 million to $821 million during this period, investment from Germany decreased by 6 percent from $181 million to $170 million.

In the first half of this year, investment inflow from Asian countries also increased significantly. In the January-June period, investment inflow from Asian countries rose by 138 percent to $1.1 billion from $481 million in the same period last year. Investment inflow from Gulf countries, on the other hand, amounted to $561 million, an increase of 322 percent in the same period.

Meanwhile, The Turkish Statistical Institute (TÜİK) has said that Iraqis topped the list of property sales to foreigners in Turkey with 293 properties, followed by Saudis with 248 units and Kuwaitis with 142.

Russian nationals came fourth in the list with 118 units and Britons with 76.

Property sales to foreigners in Turkey soared 65.3 percent in July compared to the same period in 2016, TÜİK said.