Turkey, Economy

Turkey attractive country for foreign investments

Development minister says Turkey an attractive country for international investors

02.02.2017
Turkey attractive country for foreign investments

By Bahattin Gonultas

ANKARA

Turkey has seen a “positive trend” from foreign investors in recent weeks, Development Minister Lutfi Elvan said Thursday.

“Turkey is still an attractive country for international investors,” he told Anadolu Agency’s Editors’ Desk in Ankara. “Investors made net purchases of $452 million in the stock exchange in recent weeks.”

He highlighted investment opportunities in eastern Turkey under a government scheme to boost financing in underdeveloped regions. Elvan said a number of large investors had applied under the Attraction Centers Program, which he said would create an estimated 112,400 jobs.

Last month, Prime Minister Binali Yildirim said 1,200 investors had applied under the scheme, representing an overall investment of 19.6 billion Turkish liras ($5.22 billion).

Elvan was speaking nearly a week after credit agency Fitch cut Turkey’s sovereign borrower rating and Standard & Poor switched to a negative outlook for Turkey.

He also commented on last month’s changes by the Turkish Statistics Institute’s method of calculated GDP, underlining its independence. The changes saw Turkey’s GDP jump from $720 billion to $861 billion following the revision.

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