New company launches down in July

ANKARA

The number of newly established companies in Turkey fell 29.6% month-on-month in July, the country's top trade body said on Aug. 20. 

Some 6,735 companies were launched last month, according to data released by the Union of Chambers and Commodity Exchanges of Turkey (TOBB).

During the month, 1,032 firms went out of business, a figure down 15.8% from June.

A total of 945 foreign-partnered or foreign-funded new companies were launched in July, including 524 with Turkish partners, 52 with Iranian partners, and 34 with Syrian partners.

Foreign capital partners’ capital investments constitute 85% of the total capital of foreign joint venture companies.