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Stable economic growth lures foreign investors

May '07
Turkey's stable economic growth over the last half decade is continuing to attract foreign investors. Foreign direct investment, which was US $20 billion last year, stood at $12 billion in the first three months of 2007 alone.

As far as number of established companies is concerned, Istanbul is the leading city in Turkey, followed by Antalya. While Izmir, Mugla and Ankara are within the top five, cities like Kocaeli, Bursa, Konya and Kayseri are at the bottom of the list. Since 1954, 8618 companies have been established in Istanbul and 1833 in Antalya. Only 188 companies were established in Kocaeli, one of Turkey's biggest industrial cities.

The Turkish Treasury Foreign Capital General Directorate has released data on foreign direct investment for January and February. During this period, 47 percent of the realized cash capital inflow came from EU countries and 43 percent came from the US.

During the same period, 38 companies were established with registered capital over $500,000. Out of these companies, 12 are in the production industry, eight in construction and seven in wholesale and retail trade.

The Treasury has foreseen investments of $1.05 billion from 23 projects with investment incentive certificates issued during February 2007. The number of certified investment projects has climbed to 32, with resulting investments of $2.6 billion in the first two months of 2007.

Fibre2fashion News Desk - Turkey

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