The News in Brief
Tuesday, September 10, 2024
Prepared by Messenger Staff
Ukraine Recalls Diplomat from Georgia, Citing Inadequate Wartime Diplomacy
On September 8, Ukraine's newly appointed Foreign Minister, Andrii Sybiha, announced the recall of Ukraine's temporary Chargé d'Affaires in Georgia, Mykhailo Kharyshyn, citing "his complete lack of understanding of the realities of diplomacy in a wartime state." The decision reflects the Foreign Minister's call for more proactive and results-driven diplomacy from Ukrainian ambassadors during the ongoing war.
Sybiha outlined his expectations for Ukrainian diplomats, emphasizing the need for "concrete results, courage, and proactivity." He added that ambassadors in a wartime context must not be detached from the realities of war but must take personal responsibility and demonstrate the strength of Ukrainian diplomacy through decisive action.
Responding to the decision, Georgia's Prime Minister, Irakli Kobakhidze, addressed the recall in a media briefing. Kobakhidze distinguished this action from a similar decision in 2022, when Ukraine recalled its ambassador to Georgia in what he described as a "purely political decision."
"In this case, according to our information, this is not a political act," Kobakhidze explained. He suggested that the recall was related to Kharyshyn's personal conduct rather than any broader political considerations. "A certain representative, who, if I am not mistaken, also has diplomatic status, bought household items, and this was considered inappropriate in light of the ongoing war, becoming the reason for his recall." Kobakhidze specified that the items in question were washing machines.
FDI in Georgia Reaches USD 574.3 Million in Q2 2024, Marking 10.3% Increase
Foreign Direct Investment (FDI) in Georgia amounted to USD 574.3 million in the second quarter of 2024, according to preliminary data published by the National Statistics Office (Geostat) on September 9. This represents a 10.3% rise compared to the adjusted figures for the second quarter of 2023. The growth in FDI is primarily attributed to an increase in equity and debt instruments, according to Geostat.
Of the total FDI, USD 451.3 million, or 78.6%, was in the form of reinvested earnings. Equity investments made up USD 101 million, accounting for 17.6% of the total.
The United Kingdom led foreign direct investments with USD 266.7 million (46.4% of the total), followed by Japan with USD 59.2 million (10.3%), Malta with USD 37.9 million (6.6%), Azerbaijan with USD 23.7 million (4.1%), and the Czech Republic with USD 20.9 million (3.6%). The top three investor countries represented 63.3% of the total investment.
The financial and insurance sectors attracted the largest share of FDI at USD 300.1 million (52.3%), followed by trade at USD 79.2 million (13.8%), manufacturing at USD 55.5 million (9.7%), real estate activities at USD 47.2 million (8.2%), and the energy sector at USD 28.6 million (5.0%).
Ukraine Recalls Diplomat from Georgia, Citing Inadequate Wartime Diplomacy
Sybiha outlined his expectations for Ukrainian diplomats, emphasizing the need for "concrete results, courage, and proactivity." He added that ambassadors in a wartime context must not be detached from the realities of war but must take personal responsibility and demonstrate the strength of Ukrainian diplomacy through decisive action.
Responding to the decision, Georgia's Prime Minister, Irakli Kobakhidze, addressed the recall in a media briefing. Kobakhidze distinguished this action from a similar decision in 2022, when Ukraine recalled its ambassador to Georgia in what he described as a "purely political decision."
"In this case, according to our information, this is not a political act," Kobakhidze explained. He suggested that the recall was related to Kharyshyn's personal conduct rather than any broader political considerations. "A certain representative, who, if I am not mistaken, also has diplomatic status, bought household items, and this was considered inappropriate in light of the ongoing war, becoming the reason for his recall." Kobakhidze specified that the items in question were washing machines.
FDI in Georgia Reaches USD 574.3 Million in Q2 2024, Marking 10.3% Increase
Of the total FDI, USD 451.3 million, or 78.6%, was in the form of reinvested earnings. Equity investments made up USD 101 million, accounting for 17.6% of the total.
The United Kingdom led foreign direct investments with USD 266.7 million (46.4% of the total), followed by Japan with USD 59.2 million (10.3%), Malta with USD 37.9 million (6.6%), Azerbaijan with USD 23.7 million (4.1%), and the Czech Republic with USD 20.9 million (3.6%). The top three investor countries represented 63.3% of the total investment.
The financial and insurance sectors attracted the largest share of FDI at USD 300.1 million (52.3%), followed by trade at USD 79.2 million (13.8%), manufacturing at USD 55.5 million (9.7%), real estate activities at USD 47.2 million (8.2%), and the energy sector at USD 28.6 million (5.0%).