Foreign direct investment in Georgia falls 11.7%
TBILISI. Dec 10 (Interfax) - Foreign direct investment in Georgia amounted to $684.2 million in January-September 2012, down 11.7% year-on-year, the National Statistics Service reported.
Foreign direct investment in the third quarter slumped 38.5% year-on-year to $195.4 million.
Most investment in the nine months went into the manufacturing industry at $133.7 million (19.5% of total investment), the energy sector received $133.4 million (19.5%), transport and communications - $128.8 million (18.8%) and the financial sector - $127.2 million (18.6%).
Germany remained the biggest foreign investor, putting $136.9 million into Georgia (20%). It was followed by Turkey with investment of $75.8 million (11.1%) and Britain with $54.3 million (7.9%). Investment from Russia was cut in half to $19.7 million (2.9% of overall investment).
The Georgian government hopes to raise over $1 billion in foreign direct investment in 2012.
Foreign direct investment in 2011 grew 37.3% on 2010 to $1.12 billion, or 7.8% of GDP.
