Over 5,500 new companies formed in Turkey in November

Turkish Union of Chambers and Commodity Exchanges says 1,073 companies also went out of business in the month

By Tuba Sahin

ANKARA (AA) - Some 5,526 new companies were formed in Turkey in November, the Turkish Union of Chambers and Commodity Exchanges said in a report released on Friday.

The number of newly-established companies last month rose by 1.28 percent compared with the same month last year.

The union also said 1,073 companies went out of business in the month, which was an increase of 47.8 percent compared with the same month in 2015.

The chamber's report showed 421 foreign-partnered or foreign-funded new companies established in November, up from 408 in the same month last year.

Some 148, or over 35 percent, of foreign-partnered companies were founded directly by Syrians or by Syrians in partnerships.

Out of the total number of foreign-funded companies in November, 38 were Iranian-funded, followed by Iraqi and Saudi Arabian companies.

Kaynak:

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