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Georgia Achieves Record-Breaking Foreign Direct Investments, Exceeding $1 Billion in the First Half of 2023

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Mazhar Abbas
New Update
Georgia's Economic Transformation: Record High FDI Fuels Growth

The Vice Prime Minister and Minister of Economy and Sustainable Development of Georgia, Levan Davitashvili, recently highlighted the central role of foreign direct investments (FDI) in Georgia's economic transformation. The country has witnessed a record high in FDI in 2022, reaching an impressive $2.098 billion. This upward trend continues in 2023, with the first two quarters already seeing an investment of over $1 billion.

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Invest in Georgia: A Beacon of Success

The 'Invest in Georgia 2020-2023' report presentation served as a platform to celebrate the achievements of the Enterprise Georgia agency in attracting investments. The event also provided a comprehensive view of the investment landscape within the country and offered insights into future prospects. Davitashvili applauded the agency's work in securing a diverse range of investments from various geographical locations. Notably, nearly half of the FDI originated from EU countries, followed by the USA and Persian Gulf countries. This diversity is a testament to the deliberate policy and tireless efforts of the Invest in Georgia team.

Transforming the Georgian Economy

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Major international corporations such as Indorama, and energy companies like TEPCO and MASDAR, have marked their presence in Georgia, signaling the success of the country's investment strategies. However, the transformation isn't limited to traditional sectors. The Minister pointed out the emerging sectors such as IT and business process outsourcing (BPO) have become significant employers, illustrating Georgia's adaptability in this new economic landscape.

Looking Ahead: A Positive Future

The Vice Prime Minister expressed optimism about the continuation of the positive trend in attracting FDI. Georgia’s goal is to sustain high investment levels in the coming years, fostering further economic growth and transformation. With its strategic focus on attracting FDIs, especially in burgeoning sectors like IT and BPO, Georgia is poised to leverage its economic potential to its fullest and cement its position as an attractive investment destination.

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