Foreign investments in Georgia decline by 6.3%

Mon 10 Jun 2019 14:40 GMT | 18:40 Local Time

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Georgia attracted $281.1 million in foreign direct investments in the first quarter of 2019, which is a 6.3% decrease compared to the same period of 2018, according to the latest preliminary data of the National Statistics Office of Georgia (Geostat).

Geostat said the main reasons for decreasing the foreign direct investments included completion of a pipeline project and transferring of ownership in some companies from non-resident to resident units.

The top three countries that invested the most in Georgia in Q1 of 2019 were: Ireland (47.4%), the United Kingdom (15.1%), the United States (8%), Agenda.ge reported.

The top three sectors that enjoyed 75.1% of all foreign direct investments are social and personal service activities ($139.8 million), the financial sector ($42.7 million) and transport ($28.6 million).

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