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The News in Brief

Tuesday, June 11, 2024
Prepared by Messenger Staff

US Embassy Confirms Cancellation of American Military Participation in May 26 Event Due to Ivanishvili's Statement

The US Embassy confirmed that the participation of American military personnel in the May 26 event was canceled following a statement by Bidzina Ivanishvili, the founder of Georgian Dream. This clarification was issued in response to a query from the media platform Publika.

"The US participation in the government event on May 26 was canceled due to the ruling party's false narratives about the US, as presented in the April 29 statements of the honorary chairman of Georgian Dream.

The US remains a strong supporter of Georgia's sovereignty and territorial integrity and wants to see Georgia firmly integrated into the Euro-Atlantic community. We call on the Georgian government to return to this path," the Embassy stated.

Geostat Report: 64.4% Decrease in Foreign Direct Investment in Georgia, Q1 2024

Preliminary data from the National Statistics Office of Georgia reveals that foreign direct investment (FDI) in the first quarter of 2024 totaled $201.4 million, a significant 64.4 percent drop compared to the same period in 2023. This decline is attributed to decreases across all three components of FDI: share capital, reinvestment, and debt obligations.

Breaking down these components, share capital amounted to $75.9 million, representing 37.7 percent of the total FDI. Reinvestment reached $92.5 million, accounting for 45.9 percent.

Turkey was the leading investor, contributing $42.4 million, or 21.0 percent of the total. The Czech Republic followed closely with $41.5 million (20.6 percent), and the United States with $33.7 million (16.7 percent). Collectively, the top five investor countries accounted for 85.5 percent of the total investment volume.

Sector-wise, the energy sector attracted the highest FDI in the first quarter of 2024, receiving $78.7 million, which is 39.1 percent of the total. The trade sector followed with $39.5 million (19.6 percent), and the transport sector with $38.8 million (19.3 percent).