Georgian Economy Minister Levan Davitashvili on Monday said foreign direct investments in the country had exceeded $2 billion in 2022, setting a “historic high” mark. Photo: PM’s press office
Agenda.ge, 13 Mar 2023 – 17:55, Tbilisi,Georgia
Georgian Economy Minister Levan Davitashvili on Monday said foreign direct investments in the country had exceeded $2 billion in 2022, setting a “historic high” mark.
The Ministry cited Davitashvili with noting the main source of the 2022 FDI figures had come from European Union member countries.
Almost half of the received investments come from [these countries]. More specifically, FDI from the European Union increased by 142.5 percent and amounted to $859.6 million”, the Minister noted, adding 43 percent of the total FDI had come from the bloc’s states in 2022.
Figures released by the National Statistics Office also showed the United Kingdom as Georgia’s major foreign direct investor country in 2022 with $428.3 million, followed by Spain with $367 million and the United States with $163.9 million.
The FDI increased in 2022 by 61.1 percent compared to 2021, with the Office also noting increase in equity and reinvestment of earnings as the “main reason” for the growth.
Other data showed the equity capital totalling $686.3 million – 3.3 times higher than the adjusted data of the previous year – while the volume of reinvestment increased by 1.7 times and amounted to $1.28 billion.
The largest share of FDI was registered in the financial and insurance activities sectors, with the figure of $526.4 million. Real estate came second with $406.9 million, followed by water supply and sewerage with $197 million.