Turkey sees annual rise in July's foreign investment

By Tuba Sahin and Dilara Zengin

ANKARA (AA) - Foreign investment in Turkey showed a near 10 percent drop in the first seven months of the year, the Economy Ministry said Wednesday.

However, July saw a rise of nearly 13 percent in investment from overseas compared to the same month last year.

Foreign direct investment amounted to $800 million in July, according to ministry figures. Last year $717 million was invested during July.

During January to July 2017, $5.710 billion was invested in Turkey, compared to $6.324 billion over the same period last year -- a 9.7 percent drop.

A total of 2,782 new, foreign-backed companies were established in Turkey between January and July this year, including 328 in July. Close to 56,000 companies funded by international capital now operate in the country.

German investors support 7,018 companies while backers from the U.K. and the Netherlands finance 3,033 and 2,757 businesses respectively.

Nearly 40 percent of companies that benefit from foreign funds or involvement are linked to EU members.