Turkey sees $7.3B foreign direct investment Jan-Sept.

By Tuba Sahin

ANKARA

Foreign investment in Turkey showed a near-19-percent drop in the first nine months of the year, the Economy Ministry said Thursday.

According to a statement from the ministry, $7.340 billion was invested in Turkey during January to September 2017, compared to $9.040 billion over the same period last year.

The financial intermediation sector received the highest amount of overseas capital with $1.4 billion, followed by the electricity/gas/water supply sector -- $978 million in the first nine months of the year.

The manufacturing sector and other community/social/personal services sector received $878 million and $636 million net inflow, respectively.

A total of 3,815 new, foreign-backed companies were established in Turkey in the same period, including 645 in September.

The number of companies funded by international capital operating in the country reached 50,225 by the end of previous month.

More than 60 percent of companies that benefit from foreign funds or involvement are linked to Near and Middle Eastern countries.

In September foreign direct investment amounted to $738 million, indicating a drop of almost 18 percent compared to the same month last year.