2016 was a good year for the Turkish economy if considering the statistics which show an increase in the number of foreign investors who have established companies here. According to the Turkish Union of Chambers and Commodity Exchanges (TOBB), there were 4,523 new companies registered in Turkey last year. Our company formation representatives in Turkey can assist foreign investors interested in opening businesses here.
Turkey continued to attract the attention of foreign investors in 2016, according to the TOBB which announced a total number of 4,523 of newly-registered companies by foreign enterprisers. Most of them came from middle-eastern countries like Syria, Iran and Iraq, however the surprise came from an Asian country: Japan which was mainly interested in the region of Izmir.
The report drafted by the TOBB shows that 1,764 of the companies were established through partnerships with local companies, representing 39% of the total number of businesses registered in Turkey last year. The number of companies registered in December 2016 rose to 5,526.
Even if 2015 was a better year for foreign investments, as the number of companies registered was slightly higher (with approximately 4.5%), the number of Turkish companies going out of business decreased in 2016 compared to 2015 (with approximately 9%).
January 2017 brought good news for the region of Izmir in which the number of Japanese investors has increased. The first half of 2016 brought 2,237 companies owned by Japanese shareholders in this part of the country thanks to the access to the European and Middle Eastern markets, but also due to the high living standards, according to the Izmir Development Agency (IZKA). According to large Japanese manufacturers, Izmir also offers one of the most qualified workforces in the country which is what “prompted their decision”. Most of the investments were made in the spare car parts, agriculture, research and development and manufacturing.
If you are interested in investing in Turkey and need assistance in starting a business or information on the most prolific industries, you can contact our company formation agents.