FDI grew to $ 981 million in 2011
In 2011, Foreign Direct Investment (FDI) in Georgia amounted to $981 million from which $377 million is reinvestment, according to preliminary figures released on March 9 by Geostat, the state statistics office. The figure is 20% higher compared to the adjusted data for the previous year.
The government hailed the preliminary figures. “If there were not a good business environment in Georgia, than businesses would not feel comfortable and [foreign investors] would not make additional investment, “Minister of Economy Vera Kobalia told reporters on March 14.
The Netherlands was the leader country with investment of $213.4 million (which is 22% of total FDI). The second biggest investor in 2011 was Denmark with $99.9million (10 %) and the third was international organizations with $94.5 million (9.6%). Cyprus with $94.2 (9.6%) and Turkey with $77.4 million (7.9%) were fourth and fifth on the list.
The major economic sectors receiving FDI in 2011 were manufacturing ($180.8 million of which is 18.4% of total FDI), the financial sector $177.5 million (18.1%), energy with $158.3million (16.1%), transports and communications $130.9 million (13.3%) and real estate with $122.2 million (12.5%).
It is expected that the final release will be published on August 15 of this year. Keti Bochorishvili, the Head of Georgian National Investment Agency who also attended the meeting expressed hope that after the figure will be accurate it would reach one billion.