(MENAFN) In 2023, Turkey secured the fourth position in Europe in terms of the number of foreign direct investment (FDI) projects, witnessing a notable 17 percent increase compared to the previous year. This surge in FDI projects in Turkey contributed to the country's growing prominence as an attractive destination for international investment.
Across Europe, however, the total number of FDI projects experienced a slight decline of 4 percent on an annual basis, totaling 5,694 projects for the year, according to data released by the London-based accounting services firm EY on Thursday. This data underscores the broader trends in investment activity across the continent, revealing a cautious approach among investors amidst ongoing economic uncertainties.
Despite the overall decline in FDI projects across Europe, France retained its position as the leading recipient of foreign investment for the fifth consecutive year, albeit experiencing a 5 percent decrease in the number of projects. The United Kingdom followed closely in second place, witnessing a notable 6 percent increase in FDI projects, reaching a total of 985.
Conversely, Germany saw a significant reduction in foreign investment activity, with the number of FDI projects dropping by 12 percent on an annual basis to its lowest level since 2013. This decline highlights challenges within the German investment landscape, prompting concerns about the country's competitiveness and attractiveness to foreign investors.
In contrast, Turkey's impressive performance in attracting FDI projects, surpassing Spain and securing the fourth position in Europe, reflects ongoing efforts to enhance its investment environment and foster economic growth. This positive trajectory positions Turkey as a key player in the European investment landscape, with potential for further expansion and development in the coming years.
MENAFN05052024000045015839ID1108174413
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.