Investment agency: Georgia expects to get $1 billion in foreign investments by late 2011

The Georgian Investment Agency expects foreign direct investments worth $1 billion this year. Georgia was able to successfully overcome the global economic crisis. Last year it received foreign investments worth $553 million, the head of the agency Katie Bochorishvili told media.

"The liberal economic policy of the authorities contributes to the growth of investments," she said. "The Georgian economy increased by 6.6 percent in the first half of last year. As a result of this policy, the country rating increased."

Bochorishvili said that the investment environment is very attractive in Georgia today, which is confirmed by international studies.

In the first quarter of 2011, Georgia received $174 million of direct foreign investment, or 2.3 times more than the same period of 2010. These investments were distributed by sectors as follows - 48 percent in industry, 23 percent in the financial sector, 12 percent in the field of energy, and 8 percent in construction.

Most direct investments worth 68 percent were made from EU countries.


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