Foreign direct investments up 35% in Q2 2020 in Georgia’s Black Sea region of Adjara
The construction ($28.9 million) and the energy ($ 15.5 million) sectors were characterised by particularly high investment activity in this period. Photo: Nino Alavidze/Agenda.ge.
Tweet 
Share
Foreign direct investments (FDI) increased by 35 per cent and amounted to $51.9 million in Georgia's Black Sea region of Adjara in the second quarter of 2020, show preliminary data from the press office of the government of the Adjara Autonomous Republic.
The construction ($28.9 million) and the energy ($ 15.5 million) sectors were characterised by particularly high investment activity in this period.
Against the backdrop of global challenges, despite the created economic difficulties, the existing business in Adjara not only maintains its position in the market, but also reinvests [the total reinvestment rate was 7 per cent] and expands its activities,” notes the announcement of the press office of the Adjara Autonomous Republic Government.
About 35 per cent of the investment was carried out from the Netherlands, Austria and Switzerland in the Adjara region in the second quarter of 2020.
The Adjara region is the second after Tbilisi across Georgia in terms of incoming FDIs.
Foreign direct investments (FDI) in Georgia amounted to $237.8 million in the second quarter of 2020, which is a 0.5 per cent increase compared to the same period of 2019, show the latest data of the National Statistics Office of Georgia (Geostat).
The top three countries that invested in Georgia the most in the second quarter of 2020 were the United Kingdom (24.8 per cent), Netherlands (22.4 per cent) and Turkey (13.3 per cent).
Foreign direct investments (FDI) increased by 174 per cent and amounted to $207 million in Georgia's Black Sea region of Adjara in 2019 compared to the previous year, says the press office of the Adjara Autonomous Republic Government.
International investment location scouts from leading European and US companies KPMG, Conway, and GDP Global are visiting Georgia for the first time to discover the country's investment potential and state programmes oriented towards industrial development.
Georgian Economy Minister Natia Turnava says that the increased rate of foreign direct investment in the second quarter of 2020 proves that despite the pandemic the Georgian economy is gradually recovering.
Foreign direct investments (FDI) in Georgia amounted to $237.8 million in the second quarter of 2020, which is a 0.5 per cent increase compared to the same period of 2019, show the latest data of the National Statistics Office of Georgia (Geostat). The largest share of FDI was registered in the financial sector, reaching $78.1 million in Q2 2020, the energy sector was the second with $29.6 million, followed by the construction sector with $27.7 million.
The lari (GEL) has depreciated against the US dollar by about two per cent, following an increased number of new coronavirus cases in Georgia and the upcoming parliamentary elections, said National Bank of Georgia (NBG) Head Koba Gvenetadze.