Over 4,500 companies launched by foreigners in Turkey in 2016, majority by Syrians

ANKARA

Some 4,523 companies were established by foreigners in 2016 in Turkey with Syrians taking the lion’s share, followed by Iranians and Iraqis, a data released on Jan. 20 showed. 

Some 1,764, or 39 percent, of foreign-partnered companies were founded directly or in partnerships by Syrian nationals last year, the Turkish Union of Chambers and Commodity Exchanges (TOBB) has announced.         

Out of the total number of foreign-funded companies, 298 were Iranian-funded, followed by 286 Iraqi companies last year. 

Some 4,729 companies were launched by foreigners in 2015.    

Over 63,700 new companies were set up in Turkey last year, with a 4.49 percent of decrease compared to the previous year, the TOBB data showed.         

Around 11,000 companies went out of business between January and December 2016, with a decrease of 8.88 percent compared with the same period of 2015.        

In December, a total of 5,526 new companies were established in the country, with a decline of nearly 13 percent compared with the same month of the previous year, while 1,073 companies went out of business that month.