07.May .2021 10:00

PM Appoints Vazil Hudak As A Special Advisor on Attracting FDI

PM Appoints Vazil Hudak As A Special Advisor on Attracting FDI
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The Prime Minister of Georgia Irakli Gharibashvili has appointed Vazil Hudak as a special advisor on attracting foreign direct investments (FDI).

According to preliminary data, the volume of FDI in Georgia amounted to 616.9 million USD in 2020, which is down by 52.9 % compared to 2019. Current FDI inflow is the lowest since 2008-09, which has been a post-war period in the country. According to official data, FDI hit 15-year low in 2020.

According to Geostat, the main reason for FDI decline is the transfer of several enterprises under the ownership of the Georgian residents, it resulted in FDI reduction by 340.5 million USD.