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11:00 Georgia attracts more and more investors: who invests in the country
Georgia attracts more and more investors: who invests in the country

Georgia attracts more and more investors: who invests in the country

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Read: 983     11:00     11 Март 2020    

The most popular sectors for investment in Georgia are the financial sector, energy, hotels and restaurants

According to preliminary estimates, the volume of foreign direct investment in Georgia increased by 0.2% in 2019, compared with the updated data for 2018, and amounted to $ 1.3 billion, according to materials on the website of the national statistics service of Georgia "Sakstat".

The leaders in investing in Georgia in 2019 were the United Kingdom, Turkey and Ireland. The share of investment in these countries is 617 million dollars. This is 48.7% of the total investment volume.

Investments also came from the United States ($99 million), Panama ($78.1 million), the Netherlands ($52.9 million), Russia ($50.5 million), China ($40.4 million), and other countries.

Where to invest

The most popular sectors for investment in Georgia are the financial sector, energy, hotels and restaurants. The volume of revenues in these areas is 613.2 million dollars – 48.4 % of all investments

Investments are also invested in construction ($118.5 million), manufacturing ($102.2 million), transport ($71.5 million), mining ($68.7 million), communications ($45.4 million), and so on.

Why investments have increased

The Georgian authorities believe that the growth of investments in 2019 is an indicator of the growth of business confidence.

"We see this as a sign that business confidence is growing, including in our economic policy. The fourth quarter was characterized by very positive dynamics, in particular, the volume of foreign direct investment doubled during this period, and the volume of reinvestments increased by a record seven times. This means that existing businesses, including those based on foreign investment, and the growth dynamics, compared to last year, though not much, but shows that this is the beginning of a wave of growth, " said Minister of economy and sustainable development Natia Turnava.

The country's leadership has recently taken active steps to attract investment in high-value-added sectors, which will help accelerate economic growth caused by increased exports and reduce vulnerability to external factors.

sputnik-georgia.ru





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