For who

Turkey has marked a remarkable rate of growth after 1980s. The shift from agriculture towards industry and service activities, the modernization of the existing industry and technology transfer, and the effect of international trade and competition were the three main factors that enabled Turkey to grow at a rapid rate. It is, now, one of the commercial centres in the region due to its proximity to European and North-African markets, large domestic market and, accessible, skilled and cost-effective workforce.

According to 2015 World Investment Report of UNCTAD, Turkey has become the largest recipient of foreign direct investment in West Asia. The main sectors attracting both local and foreign investments are; construction, electricity, gas and water, financial intermediary institutions, wholesale and retail, and manufacturing industry such as food, beverage and tobacco. Furthermore, Turkey has vast amount of mineral reserves such as boron, coal, iron, and silver. However, the mining sector is still relatively under-developed compared to many other mineral-rich countries; therefore, it remains to be an attractive industry for the foreign investors as well as the others. It should be also noted that EU countries, the Gulf States and the United States are the main foreign investors in Turkey.

It is undeniable that the failed coup attempt in July 2016 has negatively affected the Turkish economy and slowed down the foreign investments intended to be made in Turkey. However, despite the recent events 434 new companies with international capital have been incorporated only in October 2016, making a total of 52,310 foreign-funded companies operating in Turkey.