Turkey Is An Alternative to Russia for Major Western Investor
Last Updated: 2022-09-17Turkey Is An Alternative to Russia for Major Western Investor
After the Russian military invasion of Ukraine against Ukraine, leading U.S. companies such as Ford, Boeing, General Motors, ExxonMobil, FedEx, Nike, Adidas, McDonald's, KFC, Starbucks, Coca-Cola, PepsiCo, Airbnb, Netflix, Visa, MasterCard, American Express, Apple and others announced their withdrawal from the Russian markets, while a group of these companies conducted investment opportunity assessments in Turkey and many countries in the region.
Earlier, several international companies, led by the Swedish "Ikea" for home furnishing and accessories, the Polish clothing retailer "LLP" for design, production and distribution of clothes, the German pharmaceutical company "Boehringer Ingelheim" , and the Belgian "DW Reusables" for injection moulded reusable packaging, announced plans to transfer their investments to Turkey, in order to reduce the damages suffered during COVID-19 pandemic period.
During the past period, the Americans have emerged at the forefront of international investors who are interested in visiting Turkey and studying its investment potential.
In response to the invitation of Washington's Ambassador to Ankara, Jeff Flake, about 5,000 American companies that were preparing to leave Russia came to Turkey, so that major American investors began conducting visits to this country to see investment potential and cooperation opportunities.
In this context, the President of the U.S Chamber of Commerce, Myron Brilliant, visited Turkey with a delegation of investors, to hold talks with Turkish counterparts about the cooperation possibilities and the development of economic relations.
During the meetings, M Cam International explained the investment opportunities in Turkey, and provided the president of the U.S Chamber of Commerce and the American businessmen in the accompanying delegation with the necessary information.
According to the Investment Office of the Presidency of the Republic of Turkey, the value of direct international investments in the country was $15 billion in 2002, while it had exceeded $240 billion by the end of 2021.
Until the end of last year, the flow of international capital investment to Turkey amounted to 174 billion and 212 million dollars, while the value of US companies' investments in Turkey amounted to 14 billion and 97 million dollars, equal to 8.1 percent of the value of foreign investments.
In 2021, American companies ranked second after the Netherlands, whose companies' investments in Turkey amounted to $27.4 billion.
The number of foreign companies operating in Turkey reached 76,737 by the end of 2021, 2030 of them are American.
Edited by Mersat Real Estate Team ©
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