Turkey sees over $12 bln FDI inflow in 2016: Association

Turkey attracted $12.1 billion in foreign direct investment (FDI) in 2016, higher than expected in light of the latest developments in both Turkey and the surrounding region, a top association announced on Feb. 24. 

"Turkey saw a $12.1 billion FDI inflow in 2016. This was a higher-than-expected figure considering the latest developments both in Turkey and the surrounding region," said the head of the International Investors Association (YASED), Ahmet Erdem, in a speech at the association's 36th Ordinary General Assembly. 

He said the FDI inflow accelerated at the end of the year, which was another positive development. 

"We need to work together to make this trend permanent and raise efficiency. We, as YASED members, are aware of Turkey's potential, and we believe that the share of Turkey in global FDI could increase to 3 percent," added Erdem. 

Turkey was the 20th most popular destination for FDI inflow in 2015, rising two spots from its 22nd ranking the previous year, an international report showed on June 21, 2016. 

Turkey saw an FDI inflow worth $16.5 billion in 2015, a 36 percent increase from the previous year, rising by four points to eighth among emerging markets, according to the latest World Investment Report 2016 by the United Nations Conference on Trade and Development (UNCTAD). Turkey took a 1 percent share of the entire FDI flow in 2015.

Erdem said the FDI inflow into Turkey was around $1 billion to 2 billion in 2002, and increased to today's levels thanks to the realization of a number of key required reforms and the EU membership process. 

"Turkey lured $175 billion FDI since 2005 in total, equaling an average of $14.5 billion on annual basis," he said, adding that the global FDI inflow...