Foreign investment in Turkey hit $889 mln in October

Turkey received $889 million in foreign direct investment (FDI) in October, the Turkish Economy Ministry said on Dec. 23.        

Foreign investment in Turkey reached $8.62 billion in the first 10 months of 2016, down by 44.3 percent compared to the same period last year.        

The manufacturing sector received the largest amount of FDI at $1.03 billion, followed by financial intermediary institution activities with $950 million in the January-October period.        

There were 434 new foreign-funded companies established in October 2016, making a total of 52,310 companies with international capital operating in Turkey.        

A total of 6,829 of these were funded by German capital, while U.K. investors financed 2,991.