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Among major new FDI projects, Turnava pointed out the Namakhvani hydropower project, the construction of which will begin by the end of the year involving investments worth $1bn, as well as the recently opened electric car manufacturing factory in Kutaisi.
Projects in the energy sector accounted for one-third of the quarter’s FDI, namely $63.7mn. Manufacturing was the second most important sector with $38.4mn and investments in hotels and restaurants were significant as well, at $28.1mn.
As regards the origins of FDI, the largest volume came from the Netherlands ( 31.1%), followed by Turkey (19.2%) and the US (14.7% ).
5.3​ FTAs
Iran, North Ossetia hold trade meeting in Tehran
Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIMA) last week hosted a meeting with a visiting Russian delegation from the Chamber of Commerce and Industry (CCI) of the Republic of North Ossetia–Alania, the organisation said in a press release.
The people of Ossetia have many historical and cultural commonalities with Iran. The Ossetians descended from Iranian tribes who spread across their region, and they speak a form of the Iranian language – however, unlike Iranians, they are primarily Christian.
Iran – which has agreed a free trade zone with the Eurasian Economic Union (EEU) – is looking to EEU member states including Armenia and Russia to help boost its shortfall in imported food products which have historically arrived via the country’s southern ports but have dropped off significantly due to the US sanctions regime targeted at Tehran.
The Ossetian delegation was headed by CCI head Kazbek Tuganov who was accompanied by managing directors of several grain production firms. Agricultural, food and livestock products accounted for 74% of Iran's overall
30​ GEORGIA Country Report​ November 2019 ​ ​www.intellinews.com