Foreign Direct Investments (FDIs) amounted to $403.3 million in the first quarter (Q1) of 2017 in Georgia - a record for FDIs.
The official preliminary data of the National Statistics Office of Georgia (Geostat) revealed that FDIs increased by 3.7 percent In comparison to the same period for last year.
The top three countries that invested the most in Georgia during this period were:
- Azerbaijan: $97 million (24.1 percent of all FDIs)
- Turkey: $82 million (20.2 percent of all FDIs)
- United Kingdom: $80 million (19.8 percent of all FDIs)
Three sectors of the Georgian economy enjoyed 74.6 percent of all FDIs:
- Transport and communication: $141.1 million (35 percent of all FDIs).
- Real estate: $80.3 million (20 percent of all FDIs).
- Financial: $79.6 million (20 percent of all FDIs).
Georgian Minister of Economy Giorgi Gakharia said with its investment potential Georgia remains a leader in doing business in the region.
Our country is the only one in the region with investment growth while all the other countries have evident decrease. This is why up to 4 percent increase is a high indicator for us, but we will keep on ensuring that FDIs will become even higher from now on”, Gakharia said.
Geostat noted the adjusted data will be published on August 15, 2017.