EU investment in Turkey jumps in first half of 2017

Direct investment from EU countries to Turkey rose by 61 percent year-on-year in the first half of 2017, according to the Economy Ministry.

Investment from the 28 EU states leapt to $2.72 billion between January and June, up from $1.69 billion over the same period last year, the ministry reported on Tuesday.

The rise follows government incentives offered to foreign investors.

EU countries made up two-thirds of all foreign investment over the first six months of the year.

The figures do not account for foreign investment that left Turkey over the same period.

Investment from the Netherlands saw the sharpest increase, rising to $821 million from $403 million in 2016 while German investment dropped to $170 million from $181 million.

Investors from other parts of the world also increased their stake in Turkey.

Asian countries invested more than $1.1 billion, a 138 percent rise on the previous year. This included a 322 percent jump in investment from Gulf states.