ISLAMABAD: Turkey ranked 22nd in the world on foreign direct investment inflow in 2013, attracting around US$12.9 billion, revealed the World Investment Report on Tuesday.
The country also ranked 11th in developing countries, according to the report announced by United Nations Conference on Trade and Development (UNCTAD).
The country had ranked 24th attracting $13.2 billion foreign direct investment (FDI) in 2012, and international FDIs in the world increased by 9 percent to $1.45 trillion in 2013, said the report, Anadolu News Agency reported.
Speaking at a press conference in Istanbul, deputy chairman of International Investors Association (YASED) Akin Kozanoglu said that the last two years have seen economic recovery around the world. "International investment has re-started the upward trend after the sharp decline in 2012," he added.
Kozanoglu said that the report estimates that the global FDI's positive effect will continue in developed countries in the next three years. "It is estimated that the global FDI will reach $1.6 trillion in 2014, $1.7 trillion in 2015 and $1.8 trillion in 2016," he added.
The FDI in Turkey is expected to reach $16 billion in 2014, said Kozanoglu.
"Turkey has attracted more than 46 percent FDI at $5.1 billion in the first four-months of 2014 compared to the same period last year, according to provisional data," he added.
Turkey becomes prominent as an 'investor country' as well. Turkey ranked 39th with around $3.1 billion of foreign investment abroad. It is expected that the country as a developing economy will rank 14th between the 2014-2016 period, said the report.
Kozanoglu noted that because Turkey is geographically close to ongoing conflicts and risk areas, its FDI is affected. He said that if Turkey were a risk-free region, its FDI would reach $38 billion, similar to Spain.
Kozanoglu also underlined that energy and finance sectors will continue to take prominence in FDIs in Turkey.
Only ten countries' FDIs inflows increased around $202 billion; Russia, Belgium, the US, Mexico, Luxembourg, the Netherlands, Italy, Canada, Germany and Spain, according to the report.
YASED, a non-profit private sector organization and its members have international companies operating in Turkey.
The World Investment Report, published annually since 1991, cover the latest trends in foreign direct investment around the world.
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