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Iran topped the list of foreign-financed companies established last year in Turkey.

16.03.2012
While the number of American companies in Turkey is just 210, Iran, with its 2140 companies, moved to the 3rd place after Germany and England.

Iran broke record with the number of foreign-financed company it established in Turkey. Also it became the country which contributed the most to the growth in number of foreign companies established in Turkey in 2011, compared with the previous year. The total number of Iran joint ventures in Turkey has reached to 2140 with an increase of 590 new companies established last year.

According to the statistical information, 97 foreign-financed companies were established in December 2011. 23 of the local companies, in their turn, attracted international capital.

While 3.287 foreign-financed companies have been established since the end of the last year, 556 local companies attracted international capital.

Thus, the number of foreign capital companies has grown by 15.9% compared with the previous year. There were established just 3.309 companies in 2010 in Turkey.

The 3.834 foreign companies established in 2011, function mainly in wholesale and retail sale trade sector, as well as in real estate, renting and business activities; transport, storage and communication sectors.

The authorized capital of 347 of these companies is over $500.000.

Manufacture of chemicals and chemical products is the leading activity of companies functioning in manufacture industry, being followed by manufacture of food products, beverage and tobacco; manufacture of machinery and equipment.

547 of foreign-financed companies are of EU origin, 245 are of Near and Middle East origin and 412 are of other European origin.

Iran broke the records of both percentage and numerical increase of companies
Iran has established the largest number of foreign companies in Turkey during the last year. The number of Iranian companies, consisting 418 in 2010, reached to 590 in 2011 after a 41% increase. Iran leads the list of companies established in 2011 both in numerical and percentage increase compared with the previous year. As for the total number of Iranian companies in Turkey, it reached to 2.140.

The country with second largest number of companies established in Turkey during 2011 is Germany. The number of German companies totaled 534 in 2011, being increased by 14% compared with previous year.

In general in the year 2011 there were established 190 Azerbaijan companies, 160 English, 156 Netherland, 148 Iraq, 143 USA, 92 Italian, 40 Chinese, 26 Canadian, and 13 South Korean companies in Turkey.

The total number of Iranian companies in Turkey is almost twice as large as American’s.
Since the end of the year 2011, 23.979 companies and affiliations with foreign capital have been established and 5.304 local companies attracted international capital. Thus, the number of foreign companies, functioning in Turkey reached to 29,283.

78,1% of these are limited liability companies, 19,7% incorporated companies, and 2,2% are affiliations and commandits, general partnerships, partnerships, joint ventures and limited partnerships.

Foreign companies deal mainly with wholesale and retail sale trade sector as well as with manufacturing industry, real estate, renting and business activities sectors. Manufacture of chemicals and chemical products is the leading activity of foreign companies functioning in manufacture industry, being followed by manufacture of food products, beverage and tobacco; and textile manufacturing.

15.273 of these 29.283 companies are of EU origin occupying the first place in country. Among companies with EU origin, Germany is the leading country with 4.799 companies followed by England with 2.234 and Netherlands with 1.975 companies.

The number of companies with Near and Middle East origin in Turkey is 6.105, while the number of those from European countries, except EU members, is 3.326.

Iran, in its turn, occupies the third place in country after Germany and England with 2.240 companies. Also there are 1.210 USA companies, 1.094 Azerbaijan companies, and 906 Italian companies in Turkey.

Most foreign-financed companies are in Istanbul
As for provinces, Istanbul ranks the first place for having 16.516 foreign-financed companies, followed by Antalya with 3.510 companies, Ankara with 1.936 companies, Izmir with 682, and Mugla with 413 companies.

$ 2.7 billion worth of foreign investment as stimulus
It is planned to attract $ 1billion 142.5 in the frame of 23 projects aiming to get investment incentive certificates in December 2011. Thus, the number of certified investment projects reached to 229, with $ 5.96 billion worth investment. 45,5% of total investment amount foreseen in these certificates will be covered by international partners.

166 of said investment incentive certificates focus on manufacturing, 32 on services, 9 on mining and quarrying, 18 on water gas and electricity, and 4 on agriculture and forestry sectors.

Turkey - a gateway to the West
"Iranian companies take Turkey as a gateway to the West. This is how I can explain their interest in Turkey" said Abdullah Cinar, Member of board of Directors of Istanbul Chamber of Commerce, pointing out the importance of Turkish economic development in his comment in hurriyet.com.tr .

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