PM Comments on Decrease in Foreign Direct Investments in 2018

Georgian Prime Minister Mamuka Bakhtadze has commented on recent statistics released by Geostat revealing a decrease in foreign direct investments (FDI) in Georgia.

Geostat’s preliminary data shows that FDI amounted to $1.23 billion in 2018, 34.9% less than the previous year.

Bakhtadze has underlined three main reasons for the decrease: “The main reasons for the decrease in FDI are the completed pipeline project and also the transferring of ownership in telecommunication companies in the middle of last year,” he said.

Moreover, “the liabilities of non-resident investors were repaid, which was reflected in the statistics,” affirmed the PM.

Azerbaijan (19.5%), the UK (16.5%), and the Netherlands (13.6%) provided the largest amounts of FDI in Georgia. The biggest sums were paid to the financial sector ($277.9 mln), transport sector ($209.9 mln) and energy sector ($157.2 mln).

By Amy Jones

Photo source: Government of Georgia

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