The growth of revenues from tourism has slowed down

As of the document, the United Kingdom reaching USD 222.6 million in Q4 2024 (60.6 percent) was the major foreign direct investor country. Malta was the second with USD 67.9 million (18.5 percent) followed by the Netherlands with USD 36.3 (9.9 percent).The largest share of FDI was registered in the financial and insurance activities sector, reaching USD 314.9 million (85.7 percent) in Q4 2024. Real estate activities sector was the second with USD 65.8 million (17.9 percent), followed by the manufacturing sector with USD 23.1 million (6.3 percent).

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As for the foreign direct investments by components, the equity capital totaling USD 483.7 million, 60.1% down than the adjusted data of the previous year and the volume of reinvestment totaling USD 1 billion 170 million, 26.4% down than the adjusted data of the previous year.The share of the three largest investor countries in the total volume of foreign direct investment, in 2024 (preliminary data), amounted to 58.2%.The shares of major foreign direct investor countries in FDI stand as follows: The United Kingdom (33.6 percent), Malta (13.2 percent) and Netherlands (11.4 percent).The share of three major economic sectors in FDI reached 63.9 percent in 2024. The largest share of FDI was registered in the financial and insurance activities sector, totaling USD 526.5 million (39.5 percent), manufacturing was the second with USD 170.2 million (12.8 percent), followed by real estate activities sector with USD 155.3 million (11.6 percent).

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Lion Finance Group (BGEO LN) shares closed at GBP 54.40/share (+2.84% w/w and +12.98% m/m). More than 307k shares traded in the range of GBP 50.50 - 54.70/share. Average daily traded volume was 51k in the last 4 weeks. The volume of BGEO shares traded was at 0.69% of its capitalization.TBC Bank Group (TBCG LN) closed the week at GBP 44.00/share (+2.33% w/w and +24.29% m/m). More than 496k shares changed hands in the range of GBP 41.10 - 44.25/share. Average daily traded volume was 149k in the last 4 weeks. The volume of TBCG shares traded was at 0.88% of its capitalization.Georgia Capital (CGEO LN) shares closed at GBP 14.94/share (+3.46% w/w and +24.50% m/m). More than 584k shares traded in the range of GBP 14.42 - 15.78/share. Average daily traded volume was 76k in the last 4 weeks. The volume of CGEO shares traded was at 1.48% of its capitalization. 

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Building on the achievements of the first Roadmap (2019–2024), which established a solid foundation for sustainable finance in Georgia, the second one (2025-2028) focuses on further strengthening the regulatory framework by updating, improving, and enhancing existing regulations, guidelines, and tools, as well as introducing new ones. It also emphasizes monitoring implementation, assessing compliance, identifying gaps, and providing feedback for continuous improvement.The development of the new Roadmap was made possible through extensive consultations with local and international stakeholders, including Sparkassenstiftung for International Cooperation (DSIK), the European Bank for Reconstruction and Development (EBRD), International Finance Corporation (IFC), Sustainable Banking and IFC-supported Sustainable Banking and Finance Network (SBFN).The Phase II of Sustainable Finance Roadmap outlines the future actions that NBG intends to undertake to support sustainable finance development in Georgia. It is structured around six pillars, divided into Core and Supporting Pillars. The Core Pillars include several key areas like embedding ESG considerations-including climate and nature-related issues-into risk-assessment frameworks and decision-making processes of financial institutions; supporting transparency and accurate reporting that would eventually guide more capital flows towards sustainable activities; and embedding sustainability principles into the internal operations and workflows of the National Bank of Georgia. The Supporting Pillars cover areas such as increasing awareness and capacity building on sustainable finance; and, strengthening collaboration with local and international partners to ensure policy alignment and knowledge sharing.The Second Sustainable Finance Roadmap was presented and approved by the Financial Stability Committee. The Governor of the National Bank of Georgia, Ms. Natia Turnava, stated: “Phase II of the Sustainable Finance Roadmap marks a significant milestone in our journey toward sustainable finance. By enhancing regulatory tools, promoting transparency, and supporting the integration of ESG factors into decision-making by financial institutions, we aim to position Georgia as a regional leader in sustainable finance. This roadmap reaffirms our commitment to advancing sustainable finance and ensuring that Georgia’s financial institutions remain resilient, innovative, and aligned with the country’s sustainable development goals.”The Roadmap will be periodically reviewed and adjusted to reflect evolving market conditions, emerging risks, and global trends in sustainable finance.

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In her speech, Turnava highlighted the NBG's ongoing efforts to enhance consumer protection standards and foster a competitive financial environment. She emphasized that the effective implementation of legislative innovations and regulations requires continuous consultation and close cooperation with financial sector representatives. Accordingly, regulatory changes in consumer protection are regularly introduced in response to sectoral challenges and evolving consumer needs.“In 2024, like in previous years, the National Bank of Georgia actively worked to further improve the customer-focused environment in the financial sector, and a number of important activities/changes were implemented in this regard, including amendments made to the regulation on protecting consumer rights. Additional regulatory requirements extended to payment service providers, including detailed procedures for consumer complaints and mandatory reporting to the NBG, effective April 15, 2024.“We have also reinforced market conduct supervision, incorporating risk-based oversight to foster a regulatory environment that prioritizes consumer protection and ensures sector-wide compliance. To this end, we have developed a draft Market Conduct Supervision Strategy, which we will soon present to the public and hope to see adopted this year,” noted the NBG Governor.Turnava also underscored the importance of raising public awareness and sharing key updates through events like Consumer Protection Week."In recent years, the number of customers reaching out to the National Bank of Georgia has steadily increased, further demonstrating the positive impact of our efforts to enhance consumer awareness. In late 2023, the National Bank of Georgia established a Dispute Resolution Commission, which addresses disputes related to payment services, offering consumers a fast, effective, and free resolution mechanism. In 2024, the Commission reviewed approximately 90 disputes between consumers and payment service providers, including banks. Remarkably, 85% of these cases were resolved in favor of consumers, with a total of 300,000 GEL paid to consumers by the service providers," - said Natia Turnava.A major focus of Consumer Protection Week is enhancing accessibility for consumers with disabilities. Six regulatory agencies presented specially developed materials aimed at empowering individuals with disabilities and ensuring equal access to consumer rights information."One of today's key topics is ensuring that persons with disabilities have access to information about their rights. To support this, the National Bank of Georgia has developed a concise booklet that provides essential information to help users better understand their rights and responsibilities. It is worth noting that the financial sector is actively working to create and enhance an inclusive environment for persons with disabilities. The National Bank of Georgia fully supports this process and remains committed to further refining and advancing these efforts in the future," - said Natia Turnava.The opening event was also attended by Ekaterine Galdava, Vice Governor of the NBG. The Third International Consumer Protection Week will take place from March 10-15 in Tbilisi, Akhalkalaki, Zugdidi, and Batumi.Participants include representatives of regulatory agencies, members of parliament, central and regional government officials, international organizations, the Georgian Union of the Deaf, the Union of the Blind, and representatives from the business, academic, and non-governmental sectors. The week’s objective is to strengthen consumer rights protection mechanisms in Georgia.

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“The amendments include a reduction in the maximum prepayment commission for loan/credit refinancing from another financial organization. For individuals and legal entities with total liabilities of up to two million GEL, the commission will decrease from the current 2% to 0.5%.These changes will lower the cost of transferring liabilities between financial organizations, fostering increased competition and offering more favorable conditions for consumers.Notably, for the first time, the amendments establish an upper limit of 2% for the prepayment commission on documentary operations (e.g., letters of credit, documentary collections, bank guarantees, acceptances). Previously, this area had not been regulated, leading to cases where higher commissions were imposed. In response, the NBG has deemed it necessary to address this gap in consumer protection.The National Bank of Georgia remains committed to protecting consumers’ and investors’ rights in the financial sector and promoting competition. These changes will strengthen the competitive environment, which plays a key role in safeguarding consumer rights.Moving forward, the National Bank will continue enhancing mechanisms to promote competition and ensure consumer protection,” the NBG states.

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The sale will begin on March 10, 2025, at 10:00 AM via the online platform www.tkt.ge and the cash desks of the National Bank.For the first three days, purchases will only be available on Tkt.ge, with additional costs for delivery, insurance, and service fees. Starting March 13, 2025, if stock remains, the coin will also be available on the NBG Money Museum online store.Coins will be available for purchase at the National Bank Cash Center and the Kvareli Money Museum: Cash Center (Tbilisi, Iason Lortkipanidze St. 2 / Kakheti Highway 72); Kvareli Money Museum (Kvareli, Shota Rustaveli St. 10);To ensure broader availability, sales will be limited to one coin per customer for the first five days across all official channels. The price per coin is 110 GEL.The coin was designed in collaboration with the Bakuriani 2025 Organizing Committee and minted in 5,000 copies by the Polish Mint.

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In detail:⦁ The residential segment index decreased by 2.2% compared to the previous month and increased by 9.3% compared to the same month of the previous year;⦁ The non-residential segment index decreased by 9.3% compared to the previous month and by 2% compared to the same month of the previous year;⦁ The civil segment index decreased by 2.2% compared to the previous month and increased by 5.4% compared to the same month of the previous year.In January 2025 the Construction Cost Index (CCI) decreased by 3.2 % compared to the previous month. The change was mainly due to a 21.3% decrease in average monthly nominal wages of employees in the construction sector, which contributed -4.19 percentage points to the total index change.Compared to January 2024 the CCI increased by 5.9%. The latter was largely caused by the 22.2% increase in average monthly nominal wages of employees in the construction sector and by the 3.6% increase in the prices of construction materials, which contributed 3.47 and 2.28 percentage points to the total index change, respectively. Along with this, the Construction Cost Index posted an 18.85 increase compared to February 2022.

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