Foreign investments flow-out observed in Georgia
Georgia, Baku, June 18 / Trend , N.Kirtskhalia/
Foreign investments in Georgia declined to $124.7 million for the first quarter of 2009, compared to $537.6 million during the same period last year, the Economy Ministry Statistics Department of Georgia reported.
"The flow-out of capital was evident in the areas of transport and communications, also in the banking sector in the amount of $22.7 million and $5.5 million, respectively," the Department said.
In the first quarter of last year, the transport and communications spheres attracted $416.6 million, while the banking sector - $136.9 million.
In January-March 2009, foreign direct investments in the energy sector accounted for $26.2 million while the figure was $362.5 million during the same period of 2008. As a real estate investments of $23.6 million against $104.2 million, the business sector - $18.3 million ($398.2 million) and construction - $6.2 million ($171.8 million).
In the first quarter of the year, huge investments were made by the United Arab Emirates - $50.1 million, followed by Great Britain - $24.8 million, Czech Republic - $23.7 million, Turkey - $21 million, the Kingdom of the Netherlands - $19.9 million and Japan - $12.2 million.
In 2008, foreign direct investments in Georgia were $1,564 billion compared to $2.014 billion in 2007.
Do you have any feedback? Contact our journalist at: [email protected]