According to Reuters, Burak Daglioglu, head of the Turkish Presidential Investment Office, said in an interview that Turkey expects the scale of foreign direct investment (FDI) this year to increase from approximately US$10 billion in 2023 to US$12 to US$14 billion, including investment in the automotive industry and data centers.
Photo source: Daglioglu, the Weixin Official Accounts of the Turkish Embassy in Beijing, said that in the 20 years to 2023, Turkey has received an average of 0.
9% of global FDI, and hopes to increase this proportion to 1.
5% in the medium term, that is, the annual FDI scale will be approximately US$15 billion to US$20 billion by 2028.
In the first five months of this year, Turkey’s FDI volume was US$4 billion.
In June this year, the international organization Financial Action Task Force on Money Laundering (FATF) removed Turkey from the “grey list” and upgraded the country’s credit rating.
Daglioglu said that since then, foreign investors have increased interest in Turkey.
Daglioglu pointed out that “FDI has once again shown a positive trend in the past two months,” investors still want to be sure that inflation is falling, and geopolitical tensions have also created some uncertainty.
Daglioglu revealed that after BYD announced in July that it would invest and build a factory in Turkey, another Chinese company plans to build a car factory in Turkey.
When asked about Chery and SAIC Motor’s investment in Turkey, Daglioglu said that the two companies have been negotiating with relevant departments and potential partners, and the negotiations are moving in a positive direction, but the timing and nature of the two investments may differ.
In June, Chery Turkey said it was negotiating with relevant departments to build a factory and “strive to put into production in Turkey as soon as possible.
” Also in June, Dogan Trend Otomotiv, a Turkish distributor of SAIC’s MG brand, said it was about to sign a memorandum of understanding with SAIC to build a factory in Turkey to produce fuel and hybrid vehicles.
Daglioglu said,”I am very optimistic.
I would not be surprised if the two negotiations we are conducting succeed.
“, In addition, before the end of this year, foreign-funded companies will also invest and set up a data center in Turkey.
Daglioglu said,”We think the investment sector will be more active in the second half of this year” and the outlook for 2025 will be more optimistic.
Daglioglu also revealed that negotiations on “greenfield” investments are making progress, and if successful, each investment will be worth at least US$1 billion.
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