TBILISI, DFWatch – Foreign direct investment in Georgia is increasing dramatically, and much of it comes from companies registered in the British Virgin Island, a known tax haven with low transparency.
Foreign direct investments increased by 58% in the fourth quarter of 2011, compared to the same period the previous year, totaling 337 million dollars.
The Georgian National Statistical Department remarks that the numbers released March 9 are preliminary data, which will be adjusted after working the annual statistical data is ready.
According to the department, the level of foreign direct investment in the first quarter of 2011 was 173.7 million US dollars, 203.4 million dollars in the second quarter and 266 million dollars in the third quarter.
Netherlandsis in the first place among investors in Q4 2011 with 23%, International Organizations are on the second place with 15% and Luxemburg and the USA are on the following places with 10% each.
78.7 million US dollars came from companies registered in the Netherlands; then comes Luxemburg – 33.4 million dollars; USA – 32.8 million dollars; Belize – 31 million dollars; British Virgin Islands – 27 million dollars; Japan – 17.3 million dollars; Cyprus – 13.5 million dollars; Russia – 13 million dollars; Austria – 9.8 million dollars.
The most direct foreign investments in the fourth quarter of 2011 went to the energy sector and totaled 79 million US dollars. Then comes transport and communication – 56.6 million dollars; finance sector – 53.9 million dollars; processing industry – 53.2 million dollars; real assets – 44.7 million dollars; mining production – 24.4 million dollars; agriculture – 4.4 million dollars; construction – 3.7 million dollar.