FDI increased by 2.9% in Georgia in 2017

(MENAFN- Trend News Agency ) Foreign Direct Investments (FDI) in Georgia amounted to $346.6 million in the first nine months of 2017, which is 2.9% more than the adjusted data for the same period of the previous year. The transport sector was the main target of investments, with 447 million USD invested, according to a report by the National Statistics Office of Georgia, reports.

According to statistics, Azerbaijan is the largest investor country in Georgia. This is primarily connected to the Shah-Deniz pipeline construction project. In the first nine months of 2017, Azerbaijan invested $378 million in Georgia, which is 12% less than in the previous year.

In the first six months of 2017, Georgia's largest investors were:

1. Azerbaijan - $378 million, 12% decrease y/y

2. Turkey - $259 million, 44% increase y/y

3. UK - $175 million, 30% increase y/y

4. The Netherlands - $133 million, 84% increase y/y

5. US - $52 million, 15% increase y/y

6. United Arab Emirates - $51 million, 36% increase y/y

7. Panama - $42 million, 12% increase y/y

8. China - 35 million USD, 30% increase y/y

9. Czechia - 34 million USD, 56% decrease y/y

10. Malta - 29 million USD,12% increase y/y

Two offshore financial zones were included in the list of Georgia's largest investors of 2017. Offshore zones are often used for reinvestment reasons by business firms.

Some of the large Georgian companies are registered in the European Union, therefore their turnover is also perceived as a foreign investment.

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