The number of newly established foreign-partnered companies in Turkey has doubled in the first half of this year, year-on-year, according to data by the Union of Chambers and Commodity Exchanges of Turkey (TOBB). A total of 5,782 companies with foreign capital were formed in the first six months of this year, up 103.7 percent compared to the same period last year, data compiled from TOBB revealed. Out of the total number of newly established firms, 580 firms were joint-stock and 5,202 were limited. The same figure last year stood at 2,838, including 420 joint-stock companies and 2,418 limited. Newly established foreign-partnered joint-stock firms were launched in 31 cities in the country, with Istanbul leading the way with 382, followed by the capital of Ankara with 47, İzmir with 44, Antalya with 25 and Bursa with 20.
The total investment made by these firms stood at TL 132.72 million ($25.6 million) in Istanbul, TL 11.54 million in Ankara, TL 6.17 million in İzmir, TL 2.52 million in Antalya and TL 3.64 million in Bursa. The newly launched limited firms were established in 66 provinces in the country in the first half of this year. Istanbul again led the way with 3,151, followed by Mersin with 276, Gaziantep with 273, Hatay with 236 and Bursa with 217.
The total investments of these companies reached TL 594.85 million in Istanbul, TL 52.76 million in Mersin, TL 78.12 million in Gaziantep, TL 70.75 million in Hatay and TL 39.9 million in Bursa.
The shares of foreign institutions in Turkish companies during the said period reached TL 174.48 million and TL 1.073 billion in joint-stock and limited companies, respectively. When looked at the origin of foreigners in joint-stock companies, Iran led the way with 45 firms, followed by Saudi Arabia with 31, Germany with 21 and the Netherlands and Azerbaijan with 20 companies each. Considering the newly established limited companies, Syrian investors led the way among nations with 773 companies, followed by Saudis with 551, Iranians with 323, Egyptians with 128 and Iraqis with 118.