Eurasian Integration Yearbook 2012

Alexey Kuznetsov. “Monitoring Mutual Investmentsin CIS Countries”The Economics of the Post-Sovietand Eurasian IntegrationFigure 8.2.The map of directmutual investmentin CIS countries andGeorgiaThe size of the circles is directly proportional to the volume of accumulated direct investment of the countriesSource: MMI CISDirect investments:RussiaKazakhstanAzerbaijanUkraineBelarusGeorgia(the authorised capital of its subsidiary is $13 million); in parallel with this,PrivatBank founded Moskomprivatbank whose authorised capital has alreadyreached $50 million. A further example is the Bank of Georgia, which attemptedto augment its presence not only in Belarus but also in Ukraine. However, iteventually had to sell off a large proportion of shares in its Ukrainian subsidiarydue to its poor profitability.Investor country Recipient country Accumulated FDI ($ billions)Azerbaijan Georgia 1.25 SOCARKazakhstan Georgia 0.61 KaztransgazKazakhstan Kyrgyzstan 0.37 KazakhmysKazakhstan Ukraine 0.32 BTA BankUkraine Georgia 0.16 PrivatAzerbaijan Ukraine 0.09 SOCARUkraine Moldova 0.06 Kviza TradeGeorgia Ukraine 0.05 BorjomiCompany with the largestFDI volumeGeorgia Belarus 0.03 Bank of GeorgiaKyrgyzstan Uzbekistan 0.03 No accurate data availableTable 8.6.The largest FDI pairsin the post-Sovietspace not involvingRussiaSource: MMI CISEurasian Development Bank141