Turkey attracts USD2.8B in foreign direct investment in first 4 months of 2024

(MENAFN) Turkey has garnered foreign direct investment (FDI) amounting to USD2.8 billion during the initial four months of the year, as per an announcement by the International Investors Association (Yased) on Monday. The association further disclosed that in April alone, the country attracted FDI worth USD1.28 billion.

Breaking down the April figures, the investments were allocated as follows: USD477 million for investment capital, USD452 million for real estate investment, USD353 million for debt instruments, and USD262 million for wholesale and retail trade.

Yased emphasized the notable performance of the wholesale and retail trade sector, surpassing its previous records. Additionally, the information and communication sector seized 12 percent of investment capital inflows during the same month. The sectors of manufacture of computers, electrical-electronic and optical products, and manufacture of transportation vehicles also emerged as significant recipients of investment, capturing 5 percent and 4 percent of investments, respectively.

In terms of the sources of FDI in April, the United Kingdom led with USD134 million, securing a 28 percent share, followed closely by the United States.

The data underscores Turkey's attractiveness to foreign investors across various sectors, with substantial inflows observed particularly in areas such as real estate, trade, and technology-related industries. This influx of FDI reflects confidence in Turkey's economic potential and highlights ongoing efforts to foster a conducive environment for international investment.

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