Türkiye becoming center of attraction for global investments

Türkiye is poised to become a major hub for global investments, particularly attracting international carmakers with various projects and production programs launched in recent years.

Türkiye aims to increase its share of global foreign direct investments (FDI) to 1.5 percent by 2028, Finance Minister Mehmet Şimşek has said.

Türkiye has attracted a total of $266.9 billion in FDIs between June 2003 and 2024, the minister noted.

"Our share of global direct investments, which was 0.2 percent before 2003, rose to 0.9 percent in the 2003-2023 period," Şimşek said.

"With our [economic] program's twin policies of transformation and high value-added production, we will transform our country into a larger production base, increasing our growth potential," the minister wrote on social media platform X.

Türkiye plays a pivotal role in global supply chains, owing to the establishment of numerous factories that leverage Türkiye's strategic geographic location and its young, skilled workforce.

Notably, Chinese electric vehicle (EV) manufacturer BYD, the largest EV producer worldwide, has invested $1 billion in Türkiye. This significant investment is pioneering a "domino effect," encouraging other companies, especially in the automotive sector, to follow suit and consider Türkiye for their investment plans.

BYD's investment aims to create 5,000 direct jobs and an additional 25,000 indirect jobs by producing and exporting EVs from Türkiye. This development opens up myriad opportunities for investments in other sectors linked to the automotive industry's supply chain.

As global technology trends evolve, Türkiye is keeping pace with these rapid advancements. The nation has developed a robust research and development, as well...