Turkey: FDI flows to a record high in 2021 (report)
Istanbul / Anatolia
In 2021, foreign direct investments in Turkey reached a record high since 2016, with an increase of 81 percent, reaching 14.2$ billion.
This came in a statement by the head of the Investment Office of the Republic Presidency, Burak Daglioğlu, to Anadolu Agency, in which he talked about foreign direct investments in Turkey, the expectations for the current year, and Turkish promises to foreign investors for 2023.
Daglioglu explained that foreign direct investment in the world witnessed a 35 percent decline in 2020, affected by the Corona pandemic, while Turkey recorded the most moderate decline in the world by 18 percent.
He added that according to the first report of the United Nations Conference on Trade and Development "UNCTAD" for the year 2021, the global foreign direct investment increased by 77 percent compared to 2020, while it increases by 81 percent in Turkey, recording 14.2 billion dollars.
"This amount is the highest foreign direct investment flow that Turkey has recorded since 2016," Daglioğlu said.
He explained that the geographical distribution of incoming foreign direct investment was 60 percent from Europe, 24 percent from Asia, and 16 percent from America.
He pointed out that the countries that occupied the top ten positions in foreign direct investment in Turkey are the United Kingdom, the United States, the Netherlands, Switzerland, the United Arab Emirates, Germany, Luxembourg, South Korea, Japan, and Ireland.
The sectors most attractive to foreign investment were retail and wholesale trade, manufacturing industries, information and communication technology, financial services, and transport and warehousing activities.
Other sectors also had a good share in foreign direct investments, such as chemicals, computers, electronic and electrical equipment, and food and beverages.
He pointed out that Turkey has become one of the top ten European countries with the most short-term investment, as it attracted about 1.6 billion dollars in investments out of 294.
Turkey will continue to make investments
Daglioğlu stressed that Turkey's goal for 2021-2023 is to increase its share of global foreign direct investment by 1.5 percent.
He added that the new economic model in Turkey focuses on production, investment, employment, export and attaches great importance to foreign direct investment.
Daglioğlu explained that Turkey is working to strengthen its position in global supply chains, and international investors are working to increase their presence in Turkey.
Turkey is a production, export, research and development center in the region
Daglioğlu said, "For an executive of a large international company, Turkey is the only country with wide geographical diversity from Germany to China, and efficiency in production."
"Turkey has reached this position through reforms, investments in infrastructure and superstructure, investor-friendly policies, and training investments for talented people during the past 20 years under the leadership of President Erdogan," he continued.
He pointed out that Turkey provides opportunities for investors to reach geographical areas through the free trade agreements it has signed and logistical networks.
Turkey is one of the most liberal countries in terms of the investment environment
Daglioğlu explained that Turkey 'with its strong and fast-growing economy' provides access to global markets with its cross-site with Europe, Asia, and Africa. As well as investor-friendly policies through which it attracts sustainable international direct investment.
He added, that Turkey always keeps its doors open to all investors who want to invest with the slogan "Profit together".
He explained that according to the ease of doing business index of the World Bank Group. Turkey ranked 93rd out of 155 countries in 2006, rose to 69th in 2017, and 33rd out of 190 countries in 2020.
He added that Turkey is one of the most liberal countries in terms of the investment environment.
Noting the decrease in regulations restricting investments from 0.283 points in 2003 to 0.059 points in 2020, according to a report by the Organization for Economic Cooperation and Development, Turkey thus provides a liberal investment environment More than the economies of developing countries.
Turkey is a reliable and permanent supply base for investors
In his speech, Daglioğlu said that an important element in Turkey's economic success story is that Turkey strengthens its position through integration into global supply chains.
He explained that international companies not only produce in Turkey. But also carry out pre-production functions such as research and development, design, and testing. And use Turkey as a regional base for functions such as logistics management, training centers, and management activities, which are post-production operations.
He stressed that what proves that Turkey is a reliable and permanent supply base for all investors. It is a great activity for international companies in Turkey during the pandemic.
He indicated that international investors are implementing green manufacturing practices in many sectors in Turkey. Also have developed logistics processes that reduce carbon emissions. In addition to implementing comprehensive measures concerning women's employment.
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