Azerbaijan and Turkey together contributed to nearly one half of direct foreign investment in Georgia in 2016, according to figures released this week by the Georgian National Statistics Agency, GeoStat.
According to the figures, Azerbaijan invested USD 558 million dollars in Georgia's economy, and Turkey USD 203.5 million, out of a total direct foreign investment in 2016 of USD 1565.9 million. The other major investors in the Georgian economy was the United Kingdom with USD 118.8 million, and the Netherlands with 97.2 million.
The largest share of FDIs (USD 671.9 million) was in the transport and communications sector, followed by the construction sector (USD 129.5 million) and the financial sector (USD 129 million).
Getting the Eastern Neighbourhood right is a key necessity for the future security and prosperity of Europe. The Brussels summit offers an opportunity for important steps on this matter in the right direction – not as an end in themselves but rather as a part of a longer term and more ambitious vision.
An incident at a military facility of the self-declared Nagorno-Karabakh Republic resulted in three Armenian soldiers killed and one seriously injured. It is not clear what the exact circumstances of the incident were, but for the moment it is being treated as an accident.