Georgian PM names 3 factors that caused FDI reduction in 2018
PM Bakhtadze said that last year FDIs were down by 34.9 % compared to 2017. Photo: Gov't of Georgia.
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Georgian Prime Minister Mamuka Bakhtadze has responded to recent statistics on foreign direct investments (FDI) in Georgia and explained the reasons for their decrease.
The main reasons for the decrease in FDIs is the completed pipeline project and also transferring of ownership in telecommunication companies in the middle of last year”, Bakhtadze.
To note foreign direct investments (FDI) in Georgia amounted to $1.23 billion in 2018 as shown by preliminary data published by the National Statistics Office of Georgia (Geostat).
Last year FDIs were down by 34.9 % compared to 2017.
Bakhtadze said that there were three factors that caused FDI reduction in 2018.
The liabilities of non-resident investors were repaid, which was reflected in the statistics”, he said.
Bakhtadze also mentioned those sectors which saw an increase of FDIs.
The share of FDIs by the three major economic sectors reached 52.3% in 2018, allocated in:
- Financial sector, reaching $277.9 million
- Transports sector, reaching $209.9 million
- Energy sector, reaching $157.2 million
As for the top investor counties, Azerbaijan (19.5%), United Kingdom (16.5%) and the Netherlands (13.6%) filled the first three spots.
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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).
Foreign direct investments (FDI) in Georgia amounted to $322.6 million in the third quarter (Q3) of 2018 as shown by preliminary data published by the National Statistics Office of Georgia (Geostat).
Georgian Prime Minister Mamuka Bakhtadze will start his official working visit to Japan tomorrow. In Japan PM Bakhtadze has scheduled to meet with Japanese Foreign Minister Tarō Kōno and Finance Minister Tarō Asō.
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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).
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).
Foreign direct investments (FDI) in Georgia amounted to $417.3 million in Q3 of 2019 which is a 13.7 per cent increase compared to the same period of last year, show the latest preliminary data from the National Statistics Office of Georgia (Geostat).
The United Kingdom, Turkey and Ireland were the countries that invested the most heavily in Georgia in 2019, show the preliminary data published by the National Statistics Office of Georgia.In total, foreign direct investments (FDI) in Georgia amounted to $1.26 billion in 2019.