Posted by meb at April 23rd, 2007

Foreign-based companies established in İstanbul participated in the textiles more than any other industry last year, with the Netherlands ranked first in terms of both partnership numbers and capital inflows, according to İstanbul Chamber of Commerce (İTO) data.
 İTO announced the results of its “Evaluation of Foreign Partners and Foreign Capital Shares in Companies Registered to İTO” research on Sunday. According to the research, EU countries took the top three places among foreign-based companies established in İstanbul. The Netherlands came in first with 14.85 percent of the total, followed by Germany with 14.64 percent and England with 6.98 percent. In 2006, 2,336 foreign-based companies with a total YTL 215.3 million in capital began to operate in İstanbul. Last year, consulting attracted the most investors in numbers. On the other hand, it was the textile industry that attracted the most capital. Netherlands-based companies have 18.42 percent share of the total capital that came to Turkey last year. A full 11.53 percent of the total capital inflow came from Italy, 9.81 percent from Israel and 9.74 percent from Germany.

In foreign partnership numbers, consulting businesses get a 19.48 percent share; electrical-electronics get a 9.67 percent and textiles have an 8.39 percent share.

In capital, the textile industry has a 21.97 percent share of the total capital invested in newly established companies in İstanbul, while education-health has 14.61 percent share and consulting businesses capture 13.77 percent.

A requirement that foreigners secure permission from the Treasury before making direct investment was revoked in June 2003, and this decision has since boosted foreign direct investment. After this date, the statistical data of foreign-based companies were recorded. İTO Chairman Murat Yalçıntaş said foreign capital movements were indicators of growth expectations and competitiveness and added that political and economic stability and durable growth sparked new capital inflows, however adding that “a structure that prevents competition, input costs and high tax burdens are the obstacles against foreign direct investment.”

source: Today’s Zaman

Related posts:

  1. Capital investment in foreign-based companies doubles
  2. Istanbul and Antalya are the first preference of foreign investment
  3. Foreign capital inflow to Turkey falls 15.7 percent in January-October
  4. There are 14,872 international capital-companies in Turkey
  5. Enstar Capital comes to Istanbul