Turkey a Rising Star in Europe as Firms Invest Heavily

Posted on 01 October 2010

Mark Mobius, chairman of Templeton Asset Management’s emerging markets group, who oversees 34 billion US Dollars worth of investments, has said that Templeton is planning to invest 250 million USD in Turkish equities very soon, as Turkish stocks are by far the most attractive of Europe’s emerging markets, he said.

“Just this month we will be putting another USD 250 million in,” he said, adding that Turkey is a top-level emerging market with an exceptionally strong banking system.

The firm already has £1billion USD invested in Turkey.

This is the latest in a long line of firms and organisations professing a great deal of faith and belief in the massive growth potential of the Turkish economy and investments in the country’s industries, companies and stocks.

Also this week, car manufacturer Toyota has called Turkey the rising star of Europe. Toyota Motor Europe President Didier Leroy said that Turkey had led its growth in European car sales. The firm also expects growth to continue in Turkey along with Russia.

“We have foreseen the European market’s contraction by 3-4 percent this year but our sales in Turkey were not affected. For this year, our new distributor is expected to increase sales from 25 thousand to 38 thousand cars. The sales will reach 50 thousand cars in 2011,” said Didier.

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