Georgia attracts $281 mln in FDI in Q1of 2019:
What are the most attractive sectors of the Georgian economy?
Georgia's top investor countries in Q1 of 2019 were Ireland, United Kingdom and United States. Photo: Nino Alavidze/Agenda.ge.
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Foreign investors have been demonstrating growing interest in various fields of Georgia's economy and especially in social and personal service activities, financial and transport sectors, show the latest preliminary data of the National Statistics Office of Georgia (Geostat).
These are the top three sectors that enjoyed 75.1 per cent of all foreign direct investments (FDIs) that Georgia attracted in the first quarter (Q1) of 2019.
Overall, Georgia attracted $281.1 million in FDI in Q1 of 2019, said Geostat. This is a 6.3 per cent decrease compared to the same period of 2018.
Geostat said the main reasons for decreasing the FDI included completion of a pipeline project and transferring of ownership in some companies from non-resident to a resident units.
In particular, FDI by major economic sectors was the following:
- Social and personal service activities: $139.8 million
- Financial sector: $42.7 million
- Transport: $28.6 million
The top three countries that invested the most in Georgia in Q1 of 2019 were:
- Ireland (47.4 per cent)
- United Kingdom (15.1 per cent)
- United States (8 per cent)
Georgian Prime Minister Mamuka Bakhtadze has responded to recent statistics on foreign direct investments (FDI) in Georgia and explained the reasons for their decrease.
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Buying securities issued by Georgian companies will be easier for foreign investors, announces the Bank of Georgia.
Azerbaijan, the United Kingdom and the Netherlands were the countries that invested the most heavily in Georgia in 2018. In total, foreign direct investments (FDI) in Georgia amounted to $1.23 billion in 2018 as shown by preliminary data published by the Geostat.
Foreign investors have been demonstrating growing interest in various fields of Georgia's economy and especially in transports and communications, financial and construction sectors, show the latest preliminary data of the National Statistics Office of Georgia (Geostat).
Local investments are steadily increasing in Georgia despite the fact FDIs have decreased, announced Georgian Economy Minister Natia Turnava today, commenting on the 53.7 per cent drop in the second quarter of 2019 in FDIs compared to the same period of last year.
Foreign direct investments (FDI) in Georgia amounted to $187 million in Q2 of 2019 which is a 53.7 per cent decrease compared to the same period of 2018 show the latest preliminary data of the National Statistics Office of Georgia (Geostat).