News ID: 216470
Published: 0942 GMT June 10, 2018

Official: Iran attracted $5b in foreign investment last year

Official: Iran attracted $5b in foreign investment last year

Iran attracted $5 billion in foreign investment during the year to March 20 which shows a 45-percent growth compared to the figure for the previous year, said a deputy economy minister.

Touching on the impacts on foreign investments in Iran brought about by the US withdrawal from Iran nuclear deal, Mohammad Khazaei said so far no foreign investor has requested to pull out investments from Iran, Press TV reported.

"Meanwhile, we have not yet received any report on calls for cancelling any finance contracts signed with foreign investors," he said.

Khazaei added that given the complicated financial relations between the US and the EU, it seems that the latter needs to assign several European banks to guarantee the financial security of European investors in Iran.

"Though European firms and banks in Europe and other part of the world are totally independent from their governments, the political will of the European governments can play a key role in paving the way for European investors to undertake projects in Iran," he said.

In a speech on May 8, US President Donald Trump announced that Washington was withdrawing from the Iran deal and would revive the economic sanctions against the country, including those targeting its oil sector and transactions with the Central Bank of Iran (CBI).

In turn, Tehran said it will stay in the agreement for now and will enter fresh negotiations with the remaining parties to see if they can preserve the deal and ensure the Islamic Republic's economic interests as enshrined in the accord.

Iran has said the European sides must give assurances that its economic interests would still be met under the deal, which removed the economic sanctions against Tehran in early 2016 in exchange for Tehran's commitment to limit certain aspects of its nuclear program.

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