Optimism over FDI
By Messenger Staff
Friday, February 19At the beginning of this year, just as in 2009, Georgia’s administration is making optimistic noises about attracting foreign direct investments. Unfortunately in 2009 this optimism turned out to be misplaced, and this time international organisations and economic analysts are not impressed by the Government's expectations.
At the beginning of 2009 it was projected that Georgia would receive USD 1.7 billion in FDI. This figure was subsequently revised down to 1.1 billion, and although the final figure is not yet known it has become clear that no more than USD 800 million actually entered the country in FDI last year.
This year President Saakashvili has promised to attract USD 2 billion. Members of the Government are more modest, quoting USD 1.5 billion, and head of the National Investment Agency Irakli Matkava projects USD 1.2 billion. More realistically however FDI this year will also not exceed 800 million.