Investments in South Caucasus
By Messenger Staff
Friday, July 22009 was a difficult year for the world economy - investment in South Caucasus countries proceeded very slowly. However both Armenia and, especially, Azerbaijan gained much more investment in 2009 than Georgia, which received USD 759 million whereas Armenia received USD 853 million and Azerbaijan USD 5.468 billion.
In the first quarter of 2010 Georgia received foreign direct investment of USD 75.7 million, almost 42% less than in the same period of last year. The biggest investors so far this year are Turkey, with USD 20 million, the Czech Republic with USD 19 million and Egypt with USD 18 million.
In the first quarter of 2010 Armenia received USD 116 million, 12% less than in the same period last year. The biggest investor in Armenia is Russia, with USD 51 million, then comes France with USD 33 million and Holand with USD 31 million.
In the first quarter of 2010 Azerbaijan received USD 494 million. This is an increase of 66% on the same period of last year. The major investor is Great Britain, with USD 247 million, than comes the USA with USD 89 million, then Japan with USD 46 million, Norway with USD 29 million and Turkey with USD 23 million.
Georgian officials expect to receive more than USD 1 billion in FDI in 2010 and say that most of this will be made from the third quarter onwards. Letís share the optimism of our leadership.