Syrian refugees in Turkey establish 7,243 companies in 7 years

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A Syrian man sit in front of a syrian shop, on May 1, 2018 in Gaziantep, southwestern Turkey. In the Turkish city of Gaziantep, home to around half a million Syrians who fled the civil war south of the border, hundreds of Syrian businesses are thriving in a boost both for the displaced community and their host country. / AFP PHOTO / OZAN KOSE

According to a report titled “Companies with Syrian Capital” published by the Economic Policy Research Foundation of Turkey (TEPAV), Syrian refugees in Turkey have established 7,243 registered companies in the seven years since the civil war in Syria began, with the number exceeding 10,000 when companies in the informal economy are included, T24 news website reported on Thursday.

Seven hundred seventy-eight of the businesses were launched in the last six months, most of which are located in Istanbul, where there are 473 enterprises, followed by Mersin with 182.

According to the report, capitalization of the Syrian companies totals TL 196 million (approximately $41 million), with Syrians contributing some TL 120 million (approximately $25 million) and local partners the rest.

Of the newly established enterprises, 317 are in wholesale, 102 in real estate, 78 in construction, 47 retail shops, 28 travel agencies, 22 consultancies , 21 in transportation, 20 food retailers, 13 in textiles, 11 food producers, 10 in education, nine engineering and architectural offices, eight in computer programming and technical assistance, and eight in other service sectors.

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