Turkey announces four major FDI projects
Turkey announces four major FDI projects Investment Monitor
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Introduction
- Turkey’s economic growth for the second quarter of 2023 was 3.8%, but it is expected to slow down due to interest rate hikes and the re-election of President Recep Tayyip Erdoğan.
Foreign Direct Investment (FDI) in Turkey
- Turkey’s FDI is on the rise after recent economic and foreign policy shifts by President Erdoğan.
- The country has increased bilateral diplomatic and trade relations with the United Arab Emirates (UAE), ratifying the UAE-Turkey Comprehensive Economic Partnership Agreement.
- Both countries aim to increase bilateral trade to $40bn in the next five years.
Investment Deals in Turkey
- BASF, a German company, is doubling its production capacity in Dilovasi, Turkey to support customers in the detergent, cleaning, and chemical processing industry across Europe, the Middle East, and Africa.
- Australia-based Seawind Catamarans will open a production facility and European service center in Izmir, Turkey to cater to the European market.
- US-based WEG is expanding its operations in eastern Europe and southwest Asia with a new electric motor plant in Dilovasi.
- Böllhoff, a German manufacturer, will open a factory in Izmir with an investment of Tl600m.
SDGs, Targets, and Indicators in the Article
1. Which SDGs are addressed or connected to the issues highlighted in the article?
- SDG 8: Decent Work and Economic Growth
- SDG 9: Industry, Innovation, and Infrastructure
- SDG 17: Partnerships for the Goals
2. What specific targets under those SDGs can be identified based on the article’s content?
- SDG 8.1: Sustain per capita economic growth in accordance with national circumstances and, in particular, at least 7% GDP growth per annum in the least developed countries.
- SDG 8.2: Achieve higher levels of economic productivity through diversification, technological upgrading, and innovation.
- SDG 9.1: Develop quality, reliable, sustainable, and resilient infrastructure, including regional and transborder infrastructure, to support economic development and human well-being.
- SDG 17.16: Enhance the global partnership for sustainable development, complemented by multi-stakeholder partnerships that mobilize and share knowledge, expertise, technology, and financial resources.
3. Are there any indicators mentioned or implied in the article that can be used to measure progress towards the identified targets?
- GDP growth rate: The article mentions Turkey’s economic growth of 3.8% for the second quarter of 2023, indicating progress towards SDG 8.1.
- Foreign direct investment (FDI) inflows: The article highlights signs of Turkey’s increasing FDI after policy shifts, indicating progress towards SDG 8.2.
- Bilateral trade volume: The article mentions the UAE-Turkey Comprehensive Economic Partnership Agreement and bilateral deals worth $51bn, indicating progress towards SDG 17.16.
SDGs, Targets, and Indicators Table
| SDGs | Targets | Indicators |
|---|---|---|
| SDG 8: Decent Work and Economic Growth | 8.1: Sustain per capita economic growth in accordance with national circumstances and, in particular, at least 7% GDP growth per annum in the least developed countries. | GDP growth rate |
| SDG 9: Industry, Innovation, and Infrastructure | 9.1: Develop quality, reliable, sustainable, and resilient infrastructure, including regional and transborder infrastructure, to support economic development and human well-being. | Not explicitly mentioned in the article |
| 8.2: Achieve higher levels of economic productivity through diversification, technological upgrading, and innovation. | Foreign direct investment (FDI) inflows | |
| SDG 17: Partnerships for the Goals | 17.16: Enhance the global partnership for sustainable development, complemented by multi-stakeholder partnerships that mobilize and share knowledge, expertise, technology, and financial resources. | Bilateral trade volume |
Behold! This splendid article springs forth from the wellspring of knowledge, shaped by a wondrous proprietary AI technology that delved into a vast ocean of data, illuminating the path towards the Sustainable Development Goals. Remember that all rights are reserved by SDG Investors LLC, empowering us to champion progress together.
Source: investmentmonitor.ai
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