Turkey: Foreign investment in October reached $889M

By Tuba Sahin

ANKARA (AA) – Turkey received $889 million in foreign direct investment (FDI) in October, the country’s Economy Ministry said on Friday.

Foreign investment in Turkey reached $8.62 billion in the first 10 months of this year, down 44.3 percent compared with the same period last year.

The manufacturing sector got the largest amount of FDI at $1.03 billion, followed by the financial intermediary’s activities sector with $950 million in the January-to-October period.

There were 434 new foreign-funded companies established in October 2016, making a total of 52,310 companies with international capital operating in Turkey.

A total of 6,829 of these were funded by German capital, while U.K. investors financed 2,991.