Ruling authorities expect USD 1 bln as FDI
By Messenger Staff
Monday, July 11For the last couple of years FDI in Georgia has been on a steady decline. Last year only USD 553 mln entered the country in investments. However, this year officials had estimated an upsurge with around USD 1 bln supposedly being invested in the country.
Official figures estimate that in the first quarter of 2011 around USD 174 mln FDI entered Georgia. From this amount of investment, the following sectors were the main recipients - industry 48%, financing sector 23%, energy 18% and construction 8%. 67% of FDI came from EU states. Bizarrely, the leading country is Cyprus with 24%, then Britain with 17% and the Netherlands – 15%. The ruling administration states that it is doing everything it can to attract investments. An attractive investment climate, free industrial zones and many other steps are being taken to make FDI inflow more efficient in the country. It is also expected that in 2011 serious amounts of FDI will be directed into energy, tourism and agriculture.