FDI Down by 60.4% in Jan-Sept ‘09
Civil Georgia, Tbilisi / 17 Dec.'09 / 00:35

Foreign direct investments in Georgia fell by 60.44% to USD 505.1 million in January-September, 2009, against 1.27 billion in the same period of 2008, according to the Georgian statistics office.

However, FDI was up to USD 223.5 million in the third quarter of 2009, against USD 134.7 million in the same period of last year.

The most of the foreign investments came from the United Arab Emirates in January-September, 2009 – USD 144.9 million, followed by Egypt – USD 71.54 million.

Egypt was first listed among countries from which Georgia receives foreign direct investments in the second quarter of 2009 with USD 45 million and then in the third quarter with USD 70 million – the trend related with Egypt-based home appliances producer company Fresh Electric’s investments.

Industrial sector attracted most of the foreign investments in the third quarter of 2009 – USD 80.9 million, followed by transport and communication – USD 63.9 million and construction sector – USD 57.6 million.

Foreign direct investment was USD 1.564 bln in 2008, down from 2.014 bln in 2007.

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