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Turkey discloses number of Saudi companies registered in 9 months

Türkiye Materials 24 October 2019 15:48

BAKU, Azerbaijan, Oct. 24

By Rufiz Hafizoglu - Trend:

From January through September 2019, 351 companies with capital from Saudi Arabia were registered in Turkey, which is 566 companies fewer than in the same period last year, Trend reports referring to the Union of Chambers and Commodity Exchanges of Turkey (TOBB).

The total capital of Saudi Arabian companies registered in Turkey in the first nine months of 2019 amounted to 74.1 million Turkish liras ($12.8 million), while in the same period of 2018 this figure was 195.4 million Turkish liras ($33.8 million).

In the period of January-September 2019, most of the Saudi companies were registered in Istanbul (324), with a total capital of 68.6 million Turkish liras ($11.8 million).

During this period, three Saudi companies were registered in Turkey's Antalya province with a capital of 545,000 Turkish liras ($94,265).

From January through September 2019, two agricultural, 20 industrial, 17 construction, 165 wholesale and retail companies, 26 tourism, one financial - insurance and 42 real estate companies with Saudi capital were registered in Turkey.

The remaining companies with Saudi capital are involved in other sectors of the economy.

The total capital of 165 wholesale and retail companies registered during the reported period amounted to 29.5 million liras ($5.1 million).

(1 USD = 5.7816 TRY on Oct. 24)

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Follow the author on Twitter: @rhafizoglu

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