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State Agency: FDI more than Doubles
Civil Georgia, Tbilisi / 30 Mar.'07 / 13:30

Foreign direct investment (FDI) in Georgia has more than doubled in 2006 reaching USD 1.14 billion, up from USD 450 million in 2005, according to the Department of Statistics. 

The U.K., the U.S. and Kazakhstan were the top three investors last year with USD 182 million, USD 181.9 million and USD 152 million, respectively.

Below is a breakdown of foreign direct investments by top investor countries for 2006:

  • U.K. -  USD 182,129,800; (USD 132,925,800 in 2005)
  • U.S.A.  USD 181,946,500;  (USD 15,025,600 in 2005)
  • Kazakhstan - USD 152,310,500; (no investments in 2005)
  • Turkey - USD 127,081,200; (USD 21,812,500 in 2005)
  • Norway - USD 76,619,800; (USD 23,620,900 in 2005)
  • Azerbaijan - USD 76,528,000; (USD 66,920,200 in 2005)
  • Cyprus - USD 47,297,700; (USD 47,537,300 in 2005)
  • Italy - USD 46,138,100 (USD 22,833,500 in 2005)
  • Denmark - USD 42,477,800 (USD 319,000 in 2005)
  • Japan - USD 32,939,600 (USD 16,610,000 in 2005)
  • Russia - USD 27,874,300 (USD 38,737,600 in 2005)
  • Germany - USD 20,372,800 (USD 5,000,000 in 2005)
  • France – USD 17,221,700 (USD 14,300,900 in 2005)
  • The Czech Republic - USD 14,747,400 (USD 1,200,000 in 2005)

Offshore financial centers were also sources of FDI, with the British Virgin Islands pumping in USD 47.6 million, making it the largest such source.

Speaking at a government session on March 27, PM Zurab Nogaideli said that foreign direct investment was expected to reach USD 1.5-1.7 billion in 2007.

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