The FINANCIAL — Deputy Minister of Economy and Sustainable Development of Georgia, Giorgi Cherkezishvili delivered a speech on Georgia’s investment opportunities, achievements and further prospects at the annual international economic forum: The Georgian Economy – Prospects and Challenges. Representatives of Georgian Government and international financial organizations as well as foreign and local investors attended the Forum, which was organized by the Business Information Agency.
Giorgi Cherkezishvili provided the Forum participants with the detailed information on Georgia’s economic growth indicators and foreign investments implemented las year. As the Deputy Minister stated, Preliminary Data indicated that the amount of the Direct Foreign Investments in Georgia exceeded 1,6 billion USD (1,645 million) in 2016, which is 22% higher compared to the preliminary data of 2015 and 5% higher than detailed data of the same year. At the same time, amount of the re-investments is also increased and equals to 32% of the total DFI implemented in 2016.
Giorgi Cherkezishvili also highlighted Georgia’s economic growth and dynamics at the Forum panel. According to him, in January 2017, economic growth reached 5,2%, which is one of the highest figures recently. Deputy Minister suggested that the economic growth will be recorded in the following months as well and it should be noted that the international financial organizations also support this suggestion. In 2016, as Cherkezishvili stated, economic growth was recorded in such fields as transport and communications, energy, finance and construction. In January 2017, significant increase in the amount of export was also recorded.
Deputy Minister also discussed other important issues including unprecedented growth of tourism, development of financial and banking sectors, low taxes and attractive investment environment, which is reflected in the international rankings, according to Ministry of Economy and Sustainable Development of Georgia.
Giorgi Cherkezishvili said that such forums are essential better introduction of Georgia’s investment opportunities and expressed gratefulness to the Forum organizers.
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