Turkey: Foreign investment stands at $1.6B in March

Total foreign direct investments reaches $2.8B in first quarter

By Tuba Sahin

ANKARA (AA) - Turkey received $1.6 billion in foreign direct investment (FDI) in March, the Turkish Economy Ministry announced on Tuesday.

In the first quarter, foreign direct investment in Turkey advanced by two percent year-on-year to reach $2.8 billion, according to the ministry.

The financial intermediation sector received the biggest amount of FDI -- $990 million -- from January to March. It was followed by mining and quarrying sector with $223 million in the same period.

There were 422 new foreign-funded companies and branches formed in March, making a total of 54,493 companies with international capital operating in Turkey.

Forty percent of international firms operating in Turkey were funded by EU member states.

A total of 6,944 of these were funded by German capital, while investors from U.K. and the Netherlands financed 3,011 and 2,737, respectively.

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