UK, Spain, Netherlands Georgia’s top investing countries in 2022
The largest share of FDI was allocated in the financial and insurance activities sector and totalled $538 million (25.6 percent). Photo: Nino Alavidze/Agenda.ge
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The United Kingdom, Spain and the Netherlands were the major foreign direct investor countries in Georgia in the past year, the National Statistics Office of Georgia said on Tuesday in its adjusted data.
The body released data that showed investors from the UK led the statistics with $437mln, or 20.8 percent of the total investments, with Spain second with $360.5mln, or 17.2 percent, and the Netherlands in third with $196.2mln, or 9.4 percent.
Overall, foreign direct investments in Georgia totalled $2.09 billion last year, a figure that was 1.7 times higher compared to 2021 and up 4.9 percent from the preliminary data of 2022.
The statistics office said the largest share of FDI was allocated in the financial and insurance activities sector and totalled $538 million (25.6 percent). The real estate sector was second with $366.5 million (17.5 percent), followed by the water supply and sewage infrastructure with $197.2 million (9.4 percent).
Irakli Nadareishvili, the Deputy Minister of Economy and Sustainable Development of Georgia, on Thursday said the latest report by the United States Department of State had given “high marks” to Georgia’s investment environment and ongoing economic reforms in the country.
Trade, economic and investment cooperation between Georgia and the United Kingdom was discussed on Wednesday in a meeting between Georgia’s Deputy Economy Minister Irakli Nadareishvili and Malcolm Offord, the UK Minister for Exports.
The Netherlands was Georgia's major foreign direct investor country in the first quarter of this year with $239.6 million, followed by Japan with $63.2 million and the United States with $54.7 million, the National Statistics Office of Georgia reported in its latest figures on Friday.
The Georgian Government has developed a strategy with large investments in renewable energy, including solar and wind energies, and a plan to use “this cheap energy” and the “strategically important” location of the country, Georgian Prime Minister Irakli Garibashvili said on Thursday at a panel discussion Eurasia's Middle Corridor: From Pathway to Highway within the framework of the World Economic Forum in Davos.
Georgia’s Deputy Economy Minister Genadi Arveladze on Monday said the country’s Government aimed to strengthen its “long-term and active” cooperation with the United Kingdom.