Economics

Disinformation by an Obiektivi Host about the US not Investing in Georgia

1 October, 2018

On September 19, 2018, the host of the media-union Obiektivi, Bondo Mdzinarashvili, stated in the Night Studio of TV Obiektivi that the United States do not invest in Georgia and do not help in developing the ­­­­­economy. He also added that only Russia, Azerbaijan and Turkey invest in Georgia.

Out of all the foreign direct investments made in Georgia in the period of 1997-2007, the United States and the EU member countries account for nearly a half (48%). According to 2017-2018 data, the United States is in the top 10 of the countries that made foreign direct investment in Georgia. The United States promotes the interest of the American private sector to invest in Georgia through the Overseas Private Investment Corporation (OPIC). Therefore, Bondo Mdzinarashvili’s claim that no investments are made from the United States to Georgia, is groundless.

Fact 1. According to the National Statistics Office of Georgia, nearly a half - 48% - of the foreign direct investments made in Georgia in the last 20 years (1997-2017) falls on the United States and the EU member countries. During the 20 years, the United States invested USD 1,483,554, whereas the EU invested USD 7,391,802.

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Fact 2. Sources of foreign direct investment are diversified in Georgia. According to the data of the first two quarters of 2018, there are five EU member countries and the United States in the top 10 countries by foreign direct investment in Georgia. Russia comes only after the give six countries.
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Fact 3. According to the data on the first two quarters of 2018 from the National Statistics Office of Georgia, the United States invested USD 28 million in Georgia. In 2017, this figure was USD 79.7 million. The United States is in the top 10 countries by foreign direct investment.
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Fact 4. The interest of investing in Georgia among the American private sector is promoted by the Government of the United States.

Currently, OPIC invests USD 138 million in Georgia. OPIC has invested USD 618 million in Georgia since 1995.

OPIC is interested in implementing projects of strategic importance in Georgia, including Anaklia Deepwater Port. The company plans to invest up to USD 100 million in the project.

A large American company, SSA Marine, is also participating in the construction of Anaklia Deepwater Port. The company is also the terminal-operator and one of the investors of the port.


Myth Detector's materials covering this topic:

 

Disinformation: no direct investment has been made from the united states to Georgia

Information that the west has not constructed any enterprises in Georgia, is false

Disinformation: American brands have not been operated in Georgia

The statement that Georgia gets more income and assistance from Russia compared to western states is false


Prepared by Tamar Mezvrishvili
Myth Detector Lab