Employee from Turkey:600 companies with Emirati capital operate in Turkey

According to Ahmet Burak Daglioglu, head of the investment office belonging to the Presidency of the Republic of Turkey, about 600 companies with Emirati capital are operating in Turkey until the first half of this year. He also added that the total foreign direct investment from the United Arab Emirates to Turkey reached 5.6 billion U.S. dollars between 2002 and August 2023.

He pointed out that the Emirates is Turkey's thirteenth export and fifteenth import trading partner, with a trade volume of about 10 billion U.S. dollars by 2022.

He also noted that among the major investments made by Emirati companies in Turkey are the agreement between Dubai World Ports Group and Turkey's Eviap Group to establish a strategic partnership in shares between DP World Yarımca Port and Eviap Port, as well as the purchase of Emirates NBD Bank by DenizBank.

He said that from 2014 to 2022, the total foreign direct investment from Turkey to the Emirates amounted to about $1.1 billion and more than 400 Turkish companies are operating in the Emirates in sectors such as construction, tourism, defense and others.

Daglioglu also said that recent Emirati investments in Turkey include Dubai Islamic Bank's acquisition of a stake in the T.O.M. Group of Companies. in Turkey, which is the first Turkish bank licensed to provide digital services to individuals, as well as Mubadala's acquisition of a stake in Turkish company Calyon Energy, which includes a solar power project in Karabinar in Konya, a 1 gigawatt wind power project, a 100 megawatt solar power project in Nida, as well as a 50 megawatt solar power project in Gaziantep and other renewable projects in various Turkish cities.

He also noted that a number of investment agreements and memorandums of understanding have been concluded between the Emirates and Turkey to strengthen cooperation in the fields of trade, energy and the environment, including agreements between ADQ and the Wealth Fund in Turkey, which include a general cooperation agreement and a memorandum of understanding to establish a "Risk Capital Fund for Technology" to invest in Turkish technology companies, as well as a cooperation agreement between the ports of Abu Dhabi and Turkey, and a cooperation agreement between the ports of Abu Dhabi and Turkey, as well as a cooperation agreement between the ports of Abu Dhabi and Turkey.

Daglioglu also said that the Sovereign Wealth Fund in Turkey and ADQ recently announced the launch of the "Turkish Technology Fund" with a capital of $300 million to invest in various venture capital funds and Turkish startups with high growth potential and innovative business models focusing on developing new technologies or improving existing important sectors such as energy, infrastructure, healthcare, life science, food, agriculture, transportation, logistics, financial services and education.

He also noted that his country offers many opportunities for Emirati investors and from around the world, where M&A deals represent a great potential for Emirati investors who have business in the Turkish market for M&A transactions. He also noted that recently announced major M&A deals in many sectors ranging from financial technology and manufacturing to services, from infrastructure to real estate, and that investing in Turkish companies and developing joint partnerships create opportunities to increase business between the two countries.