Türkiye targets $10bn FDI in 2024 on Saudi support

FCHAIN Türkiye office informs:

Türkiye has received more than $6 billion FDI in the past seven months, said vice president Cevdet Yılmaz.

Türkiye is targeting more than $10 billion in foreign direct investment (FDI) in 2024, supported by a planned $5 billion investment from Saudi company.

Ankara received credit upgrades from three global rating agencies this year, which resulted in improving the investment image and perception.

FDI inflows have accelerated in the past three months, with more than $6 billion received in the past seven months, the official said.

Türkiye is aiming to increase its share in global FDI from 1 percent to 1.5 percent, Cevdet Yılmaz underlined.

The country is actively engaging with new investors from Latin America, the Gulf, the Far East, Europe and the US.

Türkiye expects to report a budget deficit of below 5 percent this year despite allocating TL2.5 trillion ($73 billion) to reconstruct the southeastern region damaged by earthquakes last year.

The government aims to bring the deficit down to 3 percent next year, the vice president said.