Istanbul Chamber of Commerce (ITO)Company
Foreign investment in Istanbul up more than 27% in H-1 2010 (TR)
Monday 26 July 2010
As the adverse impacts of the global financial crisis on the businesses started to ease, the first half saw a strong comeback in the amount of foreign direct investments and the number of investors Istanbul has drawn.
The number of foreign investors planning to establish businesses or expand their operations in Istanbul was up by 6.53% in the first half of the year over the last six months of 2009, with a 27.16% increase in the total value of these investments during the same period, figures by the Istanbul Chamber of Commerce (ÝTO), released yesterday, revealed.

In the January-June period of the year, 1,403 foreign investors established companies in Istanbul with a total capital of TL 254.84 million (€129.6 million), compared to 1,317 foreign interests that opened up firms with a total capital of TL 200.4 million in the previous half.

The total value of capital investments made by foreign investors in the first half was up by an incredible 44.68% compared to one year earlier, while the number of foreign investors also rose by 15.47% during the same period.

Evaluating the results, ITO Head Murat Yalcintas attributed the significant increase in investments to Turkey’s fast recovery from the global financial crises compared to the Euro zone. Those investors fearing of European debt woes leaned towards Turkey, he said. Even European investors opted for Turkey despite the rising competitive power in line with drop in the value of Euro, Yalcintas underlined.

The highest numbers of investors to Istanbul in the given period came from Iran, Germany and Azerbaijan, in descending order. In terms of the amount of capital brought into Turkey, however, the top ranks were occupied by the UK, Azerbaijan and Czech Republic.

Source: Today's Zaman
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