Economy, News

Syrians, Iranians own a third of new companies

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One-third of the companies established in Turkey in the first half of the year comprised Syrian- and Iranian-capitalized companies.

In this period, while the number of companies being established increased, the number of the companies being shut down decreased.

The number of companies established in the first six months of 2015 increased by 18.12 percent compared to the same period the previous year, according to data from the Turkish Union of Chambers and Commodity Exchanges (TOBB). In contrast, the number of cooperatives and real person commercial enterprises established in the same period decreased by 8.23 percent and 40.81 percent, respectively. The total number of companies and cooperatives established in the first six months of the year was 35,625. While 28,483 of those were limited companies constituting 49.57 percent of the total capital, 6.601 joint-stock companies constituted 50.48 percent.

The number of cooperatives established in the first half of the year was 535, with 227 of those being House Construction Cooperatives, 68 Irrigation Cooperatives and 57 being Motor Carrier Cooperatives. In the same period, the number of the companies, cooperatives and real person commercial enterprises decreased by 8.21 percent, 7.14 percent and 1.24 percent, respectively.

In the first half of 2015, 2,395 foreign capitalized companies were established, with 750 of those being Syrian-backed and 142 being Iranian-capitalized companies. In other words, Syrian- and Iranian-capitalized companies constituted more than one-third of all the companies established in the same period. The number of German-backed companies was 184 in the same period. Three-hundred-and-sixty-nine of the foreign-capitalized companies were joint-stock companies, while 2,026 were limited companies. Eight-hundred-and-eighty of those were established in the sector of wholesale and retail trade and repair of motor vehicles and motorcycles, while 307 were in the field of manufacturing and 207 were in the construction sector.

Resource: Daily Sabah, July 20, 2015

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