Foreign direct investment in Georgia's mining sector increases
BAKU, Azerbaijan, March 28
By Tamilla Mammadova – Trend:
Foreign direct investment in Georgia's mining sector increased by 9.5 percent in 2019 year-on-year reaching $68.7 million, Trend reports referring to Georgian National Statistics Office (Geostat).
This is while this figure stood at $62.2 million in 2018.
According to Geostat, the Netherlands was the most interested country in investing in Georgia's mining sector last year.
The investor companies that made foreign direct investment in Georgia's mining sector last year, include Branch of Frontera Resources Georgia Corporation in Georgia; Georgia Branch of Caspian Valley Service in Georgia; LLC Gelati 2007; JSC RMG Copper; LLC RMG Gold; JSC Bolnisi Tufi; the branch of foreign enterprise GNV Georgia; branch of Georgia Oil & Gas limited in Georgia; LLC NVP Georgia; Vectra Petroleum Limited Georgia Branch Office.
Today, Georgia's mineral industry produces manganese, copper and various types of quarried stone. Although the Georgian economy has experienced significant economic growth in recent years, growth in the mining and metallurgical sector has lagged behind that of the overall economy.
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