International companies, affected by the Russian-Ukrainian war, began moving their headquarters from Russia to .

International companies transfer their investments ...

Date:

Thursday, March 17, 2022

International companies, affected by the Russian-Ukrainian war, began moving their headquarters from Russia to .

International companies transfer their investments to Turkey

International companies affected by the Russian-Ukrainian war began to move their headquarters from Russia to Turkey, as a "safe haven in the region" and an "important base for trade".

In particular, American companies, which occupy second place in international capital investments, have focused on conducting business visits to Turkey in order to learn about cooperation potentials and evaluate investment opportunities in the country.

According to information collected by the Anatolia Agency correspondent, the outbreak of the Corona epidemic and the war waged by Russia against Ukraine have affected a number of Western investment companies operating in Russia.

The information indicated that a group of the mentioned companies began shifting their investment weight from Russia to Turkey, taking into account the presence of opportunities, energy prices, transportation fees and manpower.

It pointed out that the Corona pandemic and the outbreak of the Russian-Ukrainian war cast a heavy shadow on the activity of Western companies in Russia and their investment plans.

The world's leading companies that support the sanctions of many countries and international organizations against Russia preferred to stop their activities there, withdraw from this market and look for alternatives.

After stopping their activities in Russia, international companies looking for a secure and stable environment began to coordinate their regional operations and investments through new headquarters opened in Turkey.

High-level visits

During the last period, the Americans have emerged at the forefront of international investors who pay attention to visiting Turkey and studying its investment potential.

In response to the invitation of Washington's ambassador to Ankara, Jeff Flick, about 5,000 American companies that were preparing to leave Russia to come to Turkey, major American investors began conducting visits to this country in order to see investment potential and cooperation opportunities.

In this context, the President of the American Chamber of Commerce, Myron Brilliant, visited Turkey, accompanied by a delegation of investors, in order to hold talks with Turkish counterparts regarding the possibilities of cooperation and the development of economic relations.

During the meetings, AM-Cham Turkey, which represents 110 US-based companies operating in Turkey with investments of nearly $50 billion, will explain and explain investment opportunities in Turkey, and provide Brilliant and American businessmen in the accompanying delegation with the necessary information.

The information also indicated that the American delegation intends, during its visit to Turkey, to meet with some ministers and representatives of the business world to discuss topics related to a list of American investments that aim to reach the volume of trade exchange between the two countries to $100 billion, and to organize many activities that focus on supporting investments. mutual.

A Turkish delegation comprising senior officials, parliamentarians and businessmen went to the United States as part of the "commercial diplomacy activities" being organized in Washington and New York, coordinated by the Turkish Presidency's Liaison Office and the Turkish Exporters Association.

As part of the visit, which is scheduled to last until March 18, the Turkish delegation began conducting commercial and diplomatic contacts in the American capital, Washington and New York City, in addition to holding talks with counterparts in the United States dealing with various aspects of economic relations, in an initiative that would strengthen and strengthen ties. economic relations between the two countries, especially the sectors of exports and investments.

Direct international investments of more than $240 billion

According to information issued by Anadolu Agency from data of the Turkish Ministry of Industry and Technology and the Investment Office of the Presidency of the Republic of Turkey, the value of direct international investments in the country was $15 billion in 2002, while it exceeded $240 billion by the end of 2021.

Until the end of last year, the flow of international capital investment to Turkey amounted to 174 billion and 212 million dollars, while the value of US companies' investments in Turkey amounted to 14 billion and 97 million dollars, equivalent to 8.1 percent of the value of foreign investments.

In 2021, American companies ranked second after the Netherlands, whose companies' investments in Turkey amounted to $27.4 billion.

The number of foreign companies operating in Turkey reached 76,737 by the end of 2021. Two thousand and 30 of them are American.

After the Russian military attack against Ukraine, American companies, led by Ford, Boeing, General Motors, ExxonMobil, FedEx, Nike, Adidas, McDonald's, KFC, Starbucks, Coca-Cola, PepsiCo, Airbnb, Netflix, Visa, MasterCard, and American Express, Apple, and others withdraw from the Russian market. A group of these companies conducted assessments of investment opportunities in Turkey and a number of countries in the region.

Earlier, several international companies, led by the Swedish "Ikea" for furniture, the Polish "LLP" for ready-made clothes, the German "Boehringer Ingelheim" for medicines, and the Belgian "DW Reusables" for packaging, announced plans to transfer their investments to Turkey, in order to reduce the damages. suffered during the Corona pandemic.

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