Foreign investments in Turkey up 88%

Foreign investments in Turkey up 88%

A Turkish Treasury officer announced that foreign investments in Turkey increased 88% in the 10 months of this year to $2.5-bil from the same period last year. 86% of the investments flow from the EU. The officer added that the high growth rate in Turkey is becoming increasingly sustainable, and the country is reaching a higher level of stability, which leads to higher foreign investments. The economy grew 9.7% in the first three quarters, while private machinery investments increased 81%. More than 3000 foreign companies have been established in Turkey, since the new foreign investment legislation in effect since June 2003.