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Azerbaijan invests $24.9mln in Georgia

Business Materials 10 September 2011 13:39
In the second quarter of 2011, Azerbaijan invested $13.2 million in Georgia. The country ranked the sixth for the amount of investments among the main investors in Georgia during this period, State Statistics Committee of Georgia told Trend.
Azerbaijan invests $24.9mln in Georgia

Georgia, Tbilisi, Sept. 10 /Trend, N.Kirtskhalia/

In the second quarter of 2011, Azerbaijan invested $13.2 million in Georgia. The country ranked the sixth for the amount of investments among the main investors in Georgia during this period, State Statistics Committee of Georgia told Trend.

In the first quarter of 2011, Azerbaijan invested $11.7 million in Georgia. As a result, in the first half year, Azerbaijan invested $24.9 million in the Georgian economy.

Total foreign direct investment in Georgia in the second quarter of 2011 totaled $203 million, or 17 percent more than first quarter. The total figure for the first two quarters of this year is 0.6 percent more compared to the same period in 2010.

In the second quarter of 2011, the share of six large countries in the total foreign investments in Georgia amounted to 79 percent. The major investors are: U.S. - $52 million (26 percent of total investments), Turkey - $22 million (11 percent), Netherlands - $20 million (10 percent), Cyprus - $16 million (8 percent), India - $14 million (7 percent), Azerbaijan - $13.2 million (6 percent), United Arab Emirates - $12 million. $23 million or 11 percent of foreign direct investment accounted for international organizations.

Economic sectors of investments seem to be as: transportation and communication accounted for 28 percent, real estate - 24 percent, financial sector - 17 percent, industry - 15 percent, other sectors - 17 percent.

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