Investments in 2008 mostly in transport and communications
By Messenger Staff
Thursday, March 26At the beginning of 2008 the Georgian authorities expected USD 2 billion of inward investment but approximately only 1.3 came. We know that before the war USD 1.1 billion had entered the country, so there is not reason to disagree with the suggested figure of 1.3 billion for the whole year.
In 2008 direct foreign investments were made primarily in the transport and communication sector. Around USD 365 million was invested for these purposes, almost 28% of the total inward investment. Next came the energy sector with USD 253 million, real estate with 202 million, manufacturing industry with 159 million, construction with 79 million, agriculture and fisheries 11 million, banking 11 million and various other spheres 212 million.
The Georgian Government assures us that in 2009 foreign investments will reach USD 1.7 billion. Former Economic Minister Kakha Bendukidze thinks that attracting USD 2 billion will be enough to rescue Georgia from the crisis.