Azerbaijan fifth biggest investor in Georgia
BAKU – Azerbaijan invested $58 million in Georgia in 2010, becoming the fifth biggest investor in the neighboring South Caucasus republic, the Georgian statistics body estimates.
Foreign direct investments in the country amounted to $814 million last year, 23.7 percent over 2009.
The six countries that invested the most funds accounted for 58.1 pct of the total investments.
FDI from the European Union member states made up $248m, or 30 pct.
The United States was the biggest foreign investor in Georgia in 2010, investing $135.8m, or 16.7 pct of the total investments. It is followed by Turkey with 11.3 pct, the Netherlands with 9 pct, and the UK with 7.2 pct. Azerbaijan, with 7.1 pct, is followed by the UAE with 6.8 pct.
The largest share of investments - $228.8m, or 28.1 pct - were channeled into the extractive and refining industries. 26.4 pct of the funds were invested in transport and communications, 14.6 pct in real estate, and 13.2 pct in the financial sector.
According to Georgia Online website, Georgia’s biggest trading partners in January-July 2011 were Turkey with $805m, Azerbaijan with $525m and Ukraine with $482m.
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