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Prime Minister on 96% Plunge in FDI Inflows to Power Sector: We Can have Higher Paces

“As to power sector, we can have higher paces and I believe we will have”, Georgian Prime Minister told in response to the BMG question about the government measures for growing FDI inflows to power sector.

According to Geostat, the national statistics service of Georgia, only 3.7 million USD was invested in Georgian power sector in the 4th quarter of 2018, down 96% as compared to the same period of 2017.

According to the 2018 statistics, FDI inflows to the power sector made up 157 million USD, down 30% year on year.

As to all sectors, according to Geostat, FDI inflows through 2018 made up 1.23 billion USD, down 35% year on year.

These indicators do not signify we have the FDI reduction tendency. ‘We do not have tendency of declining investment inflows”, the Prime Minster said and added that FDI inflows decreased because of several factors, including the 2018 transaction, after which Geocell was bought by Georgian company and this company was excluded from the FDI calculation methodology. Bakhtadze also mentioned another reason – Georgian companies have paid off debts before foreign companies.