According to Ahmet Burak Daglioglu, head of the Investment Office of the Turkish Presidency, the cumulative foreign direct investment from the UAE to Türkiye has experienced a substantial increase, reaching $5.6 billion (AED 20.6 billion) from 2002 through August 2023.
Daglioglu reported according to the Emirates News Agency (WAM) that as of the first half of this year, approximately 600 UAE companies have been actively conducting operations in Türkiye.
Daglioglu emphasized that the UAE holds the position of being Türkiye’s 13th largest trade partner for exports and the 15th largest for imports. This has led to a significant combined trade volume of around $10 billion recorded through 2022.
He emphasized that Türkiye continues to attract consistent investments from the UAE, particularly in sectors such as energy, healthcare, agriculture, logistics, transportation, infrastructure, finance, and tourism. Furthermore, both countries are engaged in collaborative efforts in areas including climate change, energy, water, and food security.
Daglioglu provided insight into one of the noteworthy investments made by UAE companies in Türkiye, which is the strategic partnership between Dubai Ports World (DP World) group and the Turkish Yibitaş Group. This partnership encompasses the ownership shares of “DP World Yarimca Port” and the Yibitas Port, in addition to the acquisition of Denizbank by Emirates NBD Bank.
Cumulative FDI
He also emphasized that between 2014 and 2022, the cumulative foreign direct investment (FDI) from Türkiye to the UAE reached approximately $1.1 billion. Additionally, there are over 400 Turkish companies actively operating in the UAE across diverse sectors such as construction, tourism, defense, and more.
Read more: UAE, Türkiye sign agreements and MOUs worth $50.7 bn
Recent UAE investments in Türkiye
The Head of the Turkish Investment Office further highlighted some of the recent UAE investments in Türkiye, including Dubai Islamic Bank’s acquisition of a stake in the T.O.M. Group of Companies, the first Turkish bank licensed for digital services for individuals. Additionally, International Holding Co. recently acquired a 50 percent stake in the Turkish company “Kalyon Energy,” which encompasses several renewable energy projects. These projects include a solar power plant project in Karapinar, Konya, a 1-gigawatt wind power project, a 100-megawatt solar power project in Niğde, as well as a 50-megawatt solar power project in Gaziantep, among others, in various Turkish cities.
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