BAKU, Azerbaijan, May 1. Some 308 companies with Russian capital were registered in Türkiye during the January through March 2023 period, which is 213 companies more, compared to the same period of 2022, Union of Chambers and Commodity Exchanges of Türkiye (TOBB) told TurkicWorld, Trend reports.
During the reporting period, along with an increase in the number of Russian companies, their total capital also rose.
"During the reporting period, the total capital of Russian companies registered in Türkiye amounted to 411.8 million Turkish lira ($21.1 million), compared to the same period in 2022 (89.6 million Turkish lira or $4.6 million)," the TOBB said.
The majority of Russian companies were registered in Istanbul (158).
"The total capital of Russian companies registered in Istanbul amounted to 157.8 million Turkish lira ($8.1 million)," the TOBB said.
Of the total number of companies with Russian capital registered in Türkiye from January through March 2023, as many as 165 companies are engaged in the wholesale and retail trade, 25 deal with production, the rest of the companies are involved in other sectors of the economy.