Vice PM Davitashvili: FDI volume exceeds USD 1 billion
Vice PM Davitashvili: FDI volume exceeds USD 1 billion

Georgian Vice Prime Minister and Minister of Economy and Sustainable Development Levan Davitashvili participated in the presentation of the Invest In Georgia 2020-2030 report.

In his speech, the Minister elaborated on Produce In Georgia’s successful project and the role of direct foreign investments in the development and transformation of the economy.

According to Levan Davitashvili, the positive dynamics of attracting direct foreign investments (FDI), the volume of which reached USD 2.098 billion last year, continues and exceeds USD 1 billion in the first two quarters of 2023.

The Minister noted that the “geography of investments is diverse.” He clarified that almost 50% comes from the EU countries, followed by the US and Persian Gulf states.

Davitashvili went on to say that leading international corporations such as Indorama and the largest energy companies, TEPCO and MASDAR, started their operations in Georgia.

“It’s not just economic growth or numbers and results, but direct employment and new jobs. Therefore, the FDI role is big and important. In recent years, two new sectors have been formed in Georgia – IT and Business Process Outsourcing (BPO), which are key employers today,” he said.

Director of Invest In Georgia Mikheil Khidureli presented the report. Georgian Foreign Minister Ilia Darchiashvili, Finance Minister Lasha Khutsishvili, MPs, and representatives of the diplomatic corps, international organizations and investment and business sectors attended the presentation.