Foreign investment may rise to $30 bln

Turkish Daily News - Turkey has the potential to attract $10 billion more in foreign direct investment (FDI) in the coming years, an advisor to the Organization for Economic Co-operation and Development (OECD) said Tuesday. A $30-billion inflow of FDI in the coming years is realistic, said Charles Kovacs, who is also a consultant to Lehman Brothers Europe. A country must decide how much FDI it wants to attract and build its regulatory framework accordingly. The growth in the inflow of FDI in Turkey is a major success story, but if regulations in Turkey were developed further, Turkey could attract a lot more in FDI, he said.

The Turkish economy has enormous growth potential, said Kovacs. Turkey obviously has good economic potential. Turkey today has an economy of approximately $500 billion, and by the time the country is likely to join the European Union, its economy will have reached $1.5 trillion, depending, of course, on growth figures,Kovacs stated.