2020 data: foreign direct investments down 52.9% in Georgia
The largest share of FDI was registered in the financial sector, reaching $400.3 million in 2020, the mining sector was the second with $101.5 million, followed by the real estate sector with $71.8 million. Photo: Nino Alavidze/Agenda.ge.
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Foreign direct investments (FDI) in Georgia amounted to $616.9 million in 2020, down 52.9% from 2019, show the latest data of the National Statistics Office of Georgia (Geostat).
Transferring of ownership from non-resident to the resident units in several companies is considered to be the main reason for the decline of FDI which reduced the value of foreign direct investments by $340.5 million.
The top three countries that invested the most in 2020 were:
- The United Kingdom -$307.8 million (49.9%)
- Netherlands - $172.1 million (27.9%)
- Turkey - $108.1 million (17.5%)
The largest share of FDI was registered in the financial sector, reaching $400.3 million in 2020, the mining sector was the second with $101.5 million, followed by the real estate sector with $71.8 million.
Foreign direct investments (FDI) in Georgia amounted to $302.6 million in the third quarter of 2020, down 23.6% from the adjusted data of the same quarter of 2019 and up 25.2% from the preliminary data of Q2 2020, show the latest data of the National Statistics Office of Georgia (Geostat).
The government of Georgia has announced a new state programme, FDI Grant, under the auspices of Enterprise Georgia which will promote the growth of foreign direct investments, the inflow of technologies and the creation of new jobs in Georgia, announces Enterprise Georgia agency.
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.
United States Congressman Markwayne Mullin, who is a member of the House Committee on Energy and Commerce, has sent a letter to Georgian Prime Minister Giorgi Gakharia with concerns about the "deteriorating economic climate" for foreign direct investment, in particular for US energy companies in the country.
Foreign direct investments (FDI) in Georgia totalled 299 million USD in the third quarter of 2021, which is up 1.4% from the adjusted data for the same period last year, the latest data of the National Statistics Office of Georgia (Geostat) show.