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Georgia expects more investments in 2010

By Messenger Staff
Friday, November 5
Even though less than 2 months are left of the year, Georgian officials are still optimistic and expect that their country will receive investment of USD 700-800 mln in 2010. Initially, these figures were much higher. The Georgian government expected more than USD 1 bln, but due to several different reasons this number was lowered. In 2009, investments in Georgia came to almost 700 mln, and the country is desperately trying to attract least the same amount in this year. So far, this year Georgia has received investments from Poland USD 85 mln; USA USD 41 mln; Japan USD 34 mln; Turkey USD 23 mln; Azerbaijan USD 21 mln, UAE USD 12 mln and etc. Most of the investments in this year were targeted towards transport and communications, then industry, services, real estate and the financial sector. Investments had been increasing in Georgia since the rose revolution, reaching its peak in 2007, but the Russian invasion in 2008 and the global financial crisis stemmed the flow of investments into Georgia.