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Foreign capital flows into Turkish energy sector

Foreign capital flows into Turkish energy sector

Turkey's booming energy sector has gotten more foreign direct investment (FDI) than any other sector so far this year, despite an overall decrease in FDI, according to official data. According to the official bulletin on international FDI data, Turkey got $1.4 billion in foreign capital in the first five months of the year. Between January and May, electricity, gas and water topped the list of attractions for foreign investors, followed by manufacturing, construction, wholesale and retail, real estate rentals, transportation, communication and warehousing. Nearly $383 million in foreign capital flowed into electricity, gas and water, while manufacturing attracted $336 million and construction $197 million. Foreign investors put $148 million in financial intermediary institutions, $109 million in wholesale and retail trade, and $109 million in real estate rentals. Transportation, communication and warehousing received $132 million, according to the data. A total of 80.5 percent of all FDI came from European Union member countries. France topped the list with $236 million, followed by $132 million from the Netherlands, million, $131 million from Britain, $66 million from Germany, and $13 million from Italy. Non-EU European countries accounted for $48 million of FDI inflows, with $55 million from the US, followed closely by Canada (which had no FDI inflow in the same period last year) with $54 million. Foreign capital inflows from emerging markets were at higher levels than the inflows from many Western countries. In the first five months of the year, $123 million came from Asian nations, while Near Eastern and Middle Eastern countries accounted for $98 million. The FDI inflow from Gulf economies alone totaled $82 million. In the period, 1,252 companies that had foreign capital were set up. A total of 1,026 companies were founded, while 193 were partnerships and 33 were subsidiaries. This pushed the number of foreign-capital companies in Turkey to nearly 25,000. One out of three foreign capital companies in Turkey deal with trade, followed by manufacturing and real estate firms, respectively.

 

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