Georgian Deputy Economy Minister highlights “healthy” trends, increased investments

Vakhtang Tsintsadze, the Deputy Economy Minister of Georgia, on Thursday said the share capital index doubled in 2023 while the volume of reinvestment increased and debt obligations decreased, pointing to “healthy current trends” in the domestic economy.

Tsintsadze highlighted the country had attracted over $5.4 billion of foreign direct investment in the last three years, marking an increase of $456 million.

Georgia is maintaining one of the highest rates of FDIs in relation to gross domestic product in the wider region, surpassing even some European countries”, he said.

The Deputy Minister added the country attracted over $2.2 billion in 2022, with 2023 surpassing $1.9 billion in FDIs.

Tsintsadze noted the Government’s “important priority” was to enhance the investment climate and foster a “healthy” business environment to attract more private investments.

He shared expectations that the “high” economic growth and the implementation of “important” infrastructure projects in the state would continue to drive private investments, thus “positively impacting” domestic growth and income of citizens.