Burak Dağlıoğlu

Turkey expects foreign direct investment (FDI) to rise to $12-14 billion this year from around $10 billion in 2023, the head of the presidential investment office said in an interview, with automotive and data center investments on the agenda. 

Türkiye revealed its foreign direct investment (FDI) strategy for the 2024-2028 period to outline the general framework of the country's policies and guide the practices in the field.

Türkiye is a country that has attracted 262 billion dollars in investments since 2003, Burak Dağlıoğlu, president of the Presidential Investment Board, has said.

The combined sales of passenger cars and light commercial vehicles (LCV) increased by 55.4 percent in October from a year ago to 101,367, data from the Automotive Distributors' and Mobility Association (ODMD) have shown.

In the previous month, sales were up 55.9 percent year-on-year to around 97,000 units.

Turkey's new-look economic team met for the first time with international investors on Friday, with questions over how far it will hike interest rates to head off rebounding inflation high on the agenda.

Türkiye and Saudi Arabia have signed a series of agreements on boosting investment, defense industry cooperation, energy collaboration and communications during Turkish President Recep Tayyip Erdoğan's visit to Persian Gulf states.

The deals were finalized after delegation meetings led by Erdoğan and Saudi Crown Prince Mohammed bin Salman in the city of Jeddah on July 17.

Türkiye's leading e-commerce platform Trendyol has signed a cooperation agreement with Saudi Arabian retail company Fawaz Alhokair Group.

The Presidential Investment Office and global professional services network PwC have prepared a guide for foreign investors. The guide offers 10 insights from taxes to incentives to grow a business in Turkey.

The Foreign Economic Relations Board of Turkey (DEİK) on Nov. 4 launched a report via a webinar on Bilateral Trade and Foreign Direct Investment for Kuwait and Turkey.

Former Treasury and Finance Minister Berat Albayrak has resigned from the board of directors of the Turkey Wealth Fund, according to an official statement.

Albayrak, who is also the son-in-law of President Recep Tayyip Erdoğan, earlier this month resigned as finance minister citing health issues.