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Foreign direct investments in Georgia up

14 September 2015 14:25 (UTC+04:00)
Foreign direct investments in Georgia up

By Vusala Abbasova

The volume of the foreign direct investments (FDI) in Georgia increases year by year, influencing the development of the county's economy favorably.

FDI in Georgia amounted to $355 million over the second quarter of the current year, reported the National Statistics Office of Georgia.

This figure increased by 81 percent compared with the same period of 2014, and by 103 percent compared to the first quarter of 2015.

In total, FDI entering Georgia amounted to $530 million over the first half-year, increasing by 5 percent compared with the same period of the previous year, when the figure amounted to $505 million.

FDI was distributed into various sectors of the Georgian economy, but the largest share of investments was allocated to the transport and communications sector, reaching $207 million over the second quarter of 2015.

Making up 58 percent of the total volume of FDI, the investments in this sector increased by $61 million in comparison with the first quarter of 2015, while increasing $94 million compared to the second quarter of 2014.

In sum, FDI into the transport and communications sector of the country amounted to $353 million over the first half-year, which is more by $158 million than in the same period of 2014.

The second largest part of investment, at $41 million, was injected into the financial sector, amounting to 12 percent of the total volume of the foreign investments of the country over the second quarter of the current year. This amounts to more by $45 million than the first quarter of 2015 and $170 million more when compared to the second quarter of 2014.

In third position is manufacturing sector with worth of $30 million investments totaling 8 percent of the total volume of the FDI allocated to Georgia over the second quarter of 2015.

Investments in this sector increased by more than $25 million than over the first quarter of 2015, but dropped $28 million from the second quarter of 2014.

Some $35 million of the FDI was allocated to processing industry of Georgia over the first half-year, which is 70 percent less from the same period of 2014.

FDI in the construction sector over the second quarter of the current year reached $25 million (7 percent of the total FDI investments), which is more than 1 million from with the first quarter of 2015 and less than $6 million from the second quarter of 2014.

Comparing the first three months of 2015 and 2014, FDI in the construction sector increased by $19 million, totaling $49 million.

The FDI in the real estate, hotels and restaurants, energy, agriculture, and mining sectors amounted to $20 million, $18 million, $9 million, $7 million, and $1 million, respectively.

The largest investments allocated in Georgia were made by Azerbaijan, amounting to $160 million over the second quarter and $219 million over the first three months of 2015.

The share of Azerbaijani investments into Georgia over the second quarter of 2015 totaled 45 percent of the total volume of the FDI.

Netherlands with 19 percent of total FDI was second in terms of the volume of investments in Georgia. Over the second quarter of 2015, its investments reached $68 million, while as many as $90 million was allocated over the first three months of the current year.

Turkey was third on the list of FDI to Georgia at $41 million over the second quarter and $68 million during the first quarter of 2015.

The volume of FDI in Georgia amounted to $1.758 billion in 2014, increasing by 87 percent compared to 2013, when the investments totaled $942 million.

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