BAKU, Azerbaijan, June 9
By Tamilla Mammadova - Trend:
Foreign direct investments (FDI) to Georgia amounted to $165.4 million in first quarter of 2020, down by 41.7 percent compared to the first quarter of 2019, according to the preliminary data by Georgian National Statistics Service (Geostat), Trend reports.
The main reasons for decreasing FDI included completion of a pipeline project and transferring of ownership in some companies from non-resident to resident units.
The shares of FDI by major foreign direct investor countries were distributed as follows: the United Kingdom (44.2 percent), the United Stated (17 percent) and Panama (11.9 percent).
The share of FDI by three major economic sectors reached 87.5 percent in the first quarter of 2020.
The largest share of FDI was registered in the financial sector, reaching $94.9 million in first quarter of 2020, the real estate sector was the second with $34 million, followed by the hotels and restaurants sector with $15.8 million.
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