Ankara has launched plans to boost the appeal of several high added value sectors in a bid to almost double its share of global foreign direct investment (FDI). 

Turkey’s 2024–2028 strategy, which was launched on July 29, outlines plans for the country to raise its global share of FDI to 1.5% by 2028, up from a 3-year moving average of 0.85% in 2023, according to fDi’s calculation based on Unctad figures. 

In regional terms, it aims to raise the country’s share of FDI in central and eastern Europe, the Middle East and north Africa from 9.8% in the 2004–2023 period to 12%, according to Invest in Turkey calculations based on Unctad figures. 

The country’s FDI skyrocketed in the 2006–2008 period, when it accounted for as much as 1.3% of global FDI, Unctad figures show. Investment levels struggled to keep up in the wake of the global financial crisis and the internal challenges the country faced throughout the 2010s. 

The country’s headline FDI stood at $10.4bn in 2023, down from $12.9bn in 2022 and far from the $22bn peak of 2007, Unctad data show. 

The new investment strategy emphasises the role of quality FDI in raising the country’s investment profile and serving the overarching economic policy objectives. This is defined as “investments that contribute to the strong growth and sustainable development of Türkiye’s economy, accelerate its technological transformation, increase its global competitiveness, and support regional development within the country”.

Over the five-year period to 2028, Turkey will target a total of 120 projects in climate FDI, 240 projects in digital FDI, 360 projects in global value chain-related FDI, 270 projects in high-end services FDI, 360 projects generating high-quality jobs, and 300 projects in knowledge-intensive FDI. 

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