News ID: 257074
Published: 0939 GMT August 09, 2019

Foreign investment in industrial, mining projects up 90%

Foreign investment in industrial, mining projects up 90%

Foreign investment in Iran’s industrial, mining and trade projects during the three-month period to June 22, 2019 witnessed a 90-percent growth compared to the figure for the same period last year.

Moreover, the number of Iranian projects that managed to attract foreign funds in this period increased 26 percent year-on-year, according to the latest figures by the Iranian Ministry of Industry, Mine and Trade, ISNA wrote.

The figures show that in this duration, foreign investments in Iranian industrial, mining and trade projects stood at $554.4 million.

The figure amounted to $292.1 million in the same period of the preceding year.

In addition, during March 21-June 22, 2018, nineteen Iranian industrial projects managed to obtain foreign funds, whereas the number of such projects approved by the Foreign Investment Board of the Organization for Investment Economic and Technical Assistance of Iran, stood at 24 in the same three-month period of 2019.

The boost in foreign investment in Iranian projects in 2019 comes as the country is currently under unilateral US sanctions, reimposed in two phases by President Donald Trump following Washington’s withdrawal from the Joint Comprehensive Plan of Action (JCPOA) in May 2018.

The JCPOA was signed between Iran and the P5+1 in July 2015.

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