Impact of Investments and Innovations on Developing and Transition Economy Countries - the Example of Georgia

Abstract

The fact that direct foreign investments play a major role in the development of economies of transition and developing countries in the conditions of modern globalization has already been clearly confirmed, Georgia is no exception, where the statistical data of the last few years reveal the growing trend of foreign investments.

As it has already been said, investing in developing countries has the ability to significantly improve the economic-social situation, which has a subtle impact on improving the living standards of the population. Making appropriate investments in the process of improving various innovative technologies can improve the infrastructure, ensure access to basic services, increase the amenities of the population and increase the availability of local services. Investments, especially the involvement of innovative technologies, have positive effects on health, education and overall economic opportunities.

Investments in renewable energy sources and energy efficiency have a significant impact on the path to energy independence of countries with economies like Georgia in terms of access to sustainable, modern energy services.

Investing in renewable energy projects not only increases access to energy and stimulates economic growth, but also creates job opportunities in developing countries. It contributes to raising living standards and reducing poverty, as well as contributing to the achievement of the Sustainable Development Goals and the uptake of affordable and clean energy.