Turkish companies' investments abroad could reach USD 1 billion this year, targeting Eastern European countries like Greece and Romania, where the Turks are interested to make small and medium investment of USD 50-200 million, according to Ernst & Young Turkey, quoted by Mediafax newswire.

“I foresee Turkish firms investing about USD 1 billion abroad through transactions between USD 50 and 200 million”, said Musfik Cantekinler, the institutional financing department chief of Ernst & Young. Most of the investments will take place in Turkey’s neighboring regions, especially the Balkans, he added.

If certain Turkish firms invest above USD 200 million, the total foreign investment from Turkey might be even higher by year’s end, he said.

The Turkish companies are willing to invest abroad in areas such as real estate, cement, construction materials, food and telecommunications.

Irina Popescu, irina.popescu@romania-insider.com

(photo source: Sxc.hu)