Foreign direct investments (FDI) in Georgia declined by 28.3 percent year-on-year to $125.4 million in the first quarter of 2021, the country’s National Statistics Office said.

“Reduction of the amount of reinvestment and transferring of ownership from a non-resident to the resident units in several companies are considered to be the main reasons for the decline of FDI,” the office said.

The United Kingdom leads the list of investors in January-March with $88.4 million, followed by Russia ($31.9 million) and Turkey ($24.5 million).

The amount of FDI in Georgia was $616.9 million in 2020.