Posted: 1 week ago

UK Increasing FDI in Georgia in Second Quarter

Minister of Economy and Sustainable Development, Natia Turnava held a meeting with Mark Clayton, Ambassador of the United Kingdom of Great Britain and Northern Ireland to Georgia.

The meeting was introductory since the Ambassador of the United Kingdom took office in August 2020.

A wide range of trade and economic cooperation between the two countries was discussed at the meeting, with a special focus on trade and investment cooperation.

The United Kingdom is significant strategic political and economic partner to Georgia and, therefore, the importance of the Strategic Partnership and Cooperation Agreement, which will be implemented after the Brexit, was particularly stressed at the meeting.

“Our economic cooperation with the United Kingdom has reached a qualitatively new stage, especially in recent years. Today, despite the challenges related to pandemic and the global economic crisis, foreign direct investment from the UK are increased in the second quarter. It is also important that UK is a leader in terms of foreign direct investment and 32% of the FDI in Georgia in 2020 will fall on the UK,” – the Minister of Economy and Sustainable Development, Natia Turnava stated after the meeting. The Minister also noted that the current economic situation in Georgia as well as the ongoing and upcoming reforms were also discussed at the meeting.

“On behalf of British companies, it has been expressed great interest in the energy and transport sectors of Georgia, as well as various infrastructure and high-tech projects. We have agreed to work together on our new proactive investment policy to attract even more UK investors to Georgia,” – Natia Turnava said.