Turkey rises to fourth place in Europe in international investments

0
111

The head of the Turkish Presidency’s Investment Office, Burak Dağlıoğlu, said that Turkey rose to fourth place in Europe through the international investment projects it attracted last year, worth $10.6 billion.

This came in an interview about the preliminary results of the report on the countries most attractive to international direct investment in Europe for the year 2023, which will be published by the auditing and consulting firm (EY).

Dağlıoğlu stated that last year, Turkey continued its steady rise in the post-pandemic period among the countries most attractive to direct international investments in Europe.

Dağlıoğlu stated that for the first time after the Corona pandemic, a decline in international direct investment projects in Europe was recorded compared to the previous year.

He stated that behind this decline were low economic growth, high inflation, increased energy prices, and geopolitical risks.

Dağlıoğlu stated that 5,694 investment projects were announced in Europe last year, a decrease of 4 percent compared to the previous year.

He explained that with this number of projects, Europe recorded a rate 11 percent lower than the 2019 level before the outbreak of the Corona pandemic, and 14 percent lower than the peak in 2017.

-Advertisement-



He continued: “While international direct investment projects in the service sectors decreased significantly, the decline in the manufacturing sector was limited to 1 percent.”

Dağlıoğlu stated that although France attracted the largest number of projects last year, it recorded a 5 percent decrease compared to 2022.

He pointed out that the United Kingdom ranked second and the number of projects it attracted increased by 6 percent annually, while Germany ranked third and recorded a decrease of 12 percent year on year.

Dağlıoğlu stated that during 2023, Turkey continued its steady rise in the post-Corona period among the countries most attractive to direct international investments in Europe.

He explained that Turkey ranked seventh on the list in Europe in 2020 and fifth in 2022.

He stated that Turkey rose to fourth place in the top ten, attracting 375 international direct investment projects in 2023.

He pointed out that Turkey ranked first among the top ten in 2023 in terms of the rate of increase, with an increase of 17 percent compared to the previous year.

He added, “While there was an overall decline in the number of manufacturing projects across the continent, factors such as restructuring supply chains and sourcing from neighboring countries enabled a few countries on the continent, including Turkey, to attract more manufacturing projects.”

-Advertisement-



Dağlıoğlu stated that they are working to ensure that Turkey is an attractive investment destination on a global level and to provide a high-level investment experience for international investors coming to the country.

He added: “Turkey has become a prominent destination for investors thanks to its strategic location and strong investment environment.”

He continued: “The international direct investment we attracted in 2023, worth $10.6 billion, is the most clear indicator of this success.”

He added: “Despite the slowdown in investment trends across Europe, Turkey has become an attractive center for international investors by strengthening its infrastructure and diversifying its economy. That we have overtaken Spain and ranked fourth after France, England and Germany in this regard is very positive.”

Dağlıoğlu stated: “When we look at the past ten years, we find that Turkey has maintained its leading position, especially in manufacturing sector investments in a wide geographical area covering Central and Eastern Europe, the Middle East, and North Africa.

He explained: “We have become the country that attracts the most industrial investments in these regions, as Turkey attracted 21.7 percent of industrial investments during the aforementioned period.”

He stated: “We rank first as the country that attracted the most expansion investments, as Turkey attracted 19.1% of the expansion type investments achieved since 2013.”