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Caspian Energy Journal Caspian European Club
Wednesday, 13 March 2019 11:00

FDI in Georgia considerably drop

FDI in Georgia considerably drop

“Completion of the main gas pipeline project has considerably contributed to the reduction of foreign direct investments (FDI), along with a most significant transaction in the information and communication technologies (ICT) in the middle of the last year”, Prime Minister of Georgia Mamuka Bakhtadze said at a regular press briefing prior to the Executive Government Meeting, Caspian Energy News (www.caspianenergy.net) reports with reference to the press office of the Prime Minister of Georgia.

According to the head of government of Georgia, FDI has reached 1.230 BLN GEL in 2018, thus being one-third lower than the respective indicator of 2017.

“Completion of the main gas pipeline project has considerably contributed to the reduction of FDI, along with a most significant transaction in the ICT in the middle of the last year, when a local resident acquired a share from a foreign resident. Third factor for the reduction of FDI is a set of large-scale liabilities towards non-resident investors that have been serviced. All of that has been reflected in the statistics and is a significant achievement similar to the resident companies making active investments in the telecommunications sector. It is particularly important for me that Georgia is advancing in overall investments and 20% increase is a clear evidence of this. Attraction of investments is one of the most important arguments for Fitch Rating Agency in increasing our sovereign credit rating”, Mamuka Bakhtadze added.

According to the head of government, FDI was increased in 2018 in the following sectors: processing, mining, healthcare and social security, along with agriculture.

More details: http://gov.ge/index.php?lang_id=ENG&sec_id=526&info_id=70577

Person in charge of the newsline: Olga Nagiyeva 

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