BAKU, Azerbaijan, October 16
By Tamilla Mammadova – Trend:
Foreigners have increased investments in Georgia's construction sector, compared to real estate sector, according to statistics of 2Q2020, Trend reports via Georgian media.
In general, in the second quarter, the level of foreign investment reached the level of the average quarterly indicators.
The volume of foreign direct investment in Georgian real estate in 2Q2020 amounted to $7.98 million, which is 76.4 percent less than in the first quarter of 2020, when the volume of investments was $33.90 million, and 73.1 percent less than in the second quarter of 2019, when $29.76 million was invested.
The volume of direct investment in Georgia's construction sector amounted to $27.71 million, which is 68.1 percent more than in the first quarter, when $8.82 million was invested, and 73.2 percent more than in the second quarter of 2019, when the volume of investments was $7.42 million.
In addition, in the second quarter of 2020, foreigners invested $2.37 million in the hotel and restaurant business in Georgia, which is 84.8 percent more than in the first quarter, when the volume of investments was $15.71 million, and 87.9 percent less. than in the second quarter of 2019, when $19.66 million was invested.
In general, in the second quarter of 2020, foreigners invested $237.78 million in the Georgian economy. Investments in construction amounted to 11.7 percent of the total, investments in real estate - 3.4 percent, in the restaurant and hotel business - 1 percent.
The total volume of foreign investments increased by 27.7 percent compared to the 1st quarter of 2020, when $171.79 million was invested.
In general, the level of foreign investments reached the level of average indicators: in the second quarter of 2019, the level of foreign investments amounted to $236.57 million, then there is 0.5 percent less than this year.
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