While the tension between Ukraine and Russia continued silently, the number of Russian companies established in Turkiye in the first six months of 2022 was 720.
The number of companies with Russian partners established in Turkiye in the last six months has reached 720. While only 9 Russian companies were opened in our country in January, this number reached 128 in August. The total number of companies opened in six months broke a historical record. This figure was 29 in 2018, 27 in 2019, 33 in 2020, and 39 in 2021.
Petrochemical, iron-steel, logistics, automotive and sub-industry and textile sectors lead the investments made from Russia to Turkiye. Industry representatives state that the Russians shifted their investments to Turkiye due to the embargo and that they made the trade to Europe through Turkiye. Established companies also contribute to the Turkish economy in terms of investment, production and employment.
EU and US increased control
According to the news of Turkiye Newspaper, business representatives who stated that Russian companies continue their trade by investing in Turkiye due to the embargo imposed by Europe said, “They have investments in many fields. However, this is a risk. After all, Europe and the USA have embargoes on Russian companies and this is by-passed through Turkiye. The USA’s stance on this issue is very clear and they make various complaints to the Ministry of Commerce. Increased control at European customs gates. However, no official decision has been taken. If the presence of Russian companies in exports from Turkiye is understood, various embargoes may await us.”
They are buying mainly factories
Fatih Erguven, Chairman of the Board of Directors of Inhouse Global, operating in the real estate sector, stated that Russian companies turned their attention to Turkiye during the embargo process against Russia and said, “They mainly buy warehouse and factory areas. For the factory, Istanbul, Izmit, Bursa, Corlu and Tekirdağ come to the fore. At the same time, there are those who invest in the field of tourism, such as hotel purchasing and operation.”
On the other hand, Turks are filling the place of European companies in Russia. While Turkish shoe manufacturer FLO bought more than 100 stores of global sportswear company Reebok in Russia in May, it announced that Fiba and Anadolu Efes groups made major purchases in the country. In addition, the Russian newspaper Izvestiya reported that İpekyol, Mudo, adL, LTB, Twist will open stores in Russia.
A burst has occurred in 6 months
2018 29
2019 27
2020 33
2021 39
2022 January 9
2022 February 13
2022 March 64
2022 April 136
2022 May 116
2022 June 153
2022 July 101
2022 August 128
Source: Yeniakit / Translated by Irem Yildiz