Foreign direct investment reached USD 173.7 million in the first quarter of 2011, up from USD 75 million in the same period of 2010 and up from USD 120 million in the fourth quarter of last year, according to preliminary figures released by the Georgian state statistic office, Geostat, on June 27.
Most of the FDI came from Cyprus-registered companies, USD 41.4 million, in 2011 first quarter, according to these figures, followed by the UK – USD 28.7 million; the Netherlands – USD 25.1 million; Russia – USD 19.8 million; Turkey – USD 13.9 million and Azerbaijan – USD 11.7 million. USD 19.6 million came from the British Virgin Islands, an offshore financial center, according to Geostat.
Industrial sector, according to Geostat, attracted most of the FDI in the first quarter - USD 82.8 million (47%): followed by financial sector - USD 39.8 million (22.9%); energy sector - USD 19.9 million (11.5%); construction – USD 14.4 million (8.3%); real estate - USD 7 million (4.1%); restaurants and hotels - USD 3.4 million (2%).
PM Nika Gilauri said on June 27, that the figure “is very positive” and source for optimism.