News ID: 265217
Published: 1231 GMT February 04, 2020

Minister: 10-month FDI in Iran up 50%

Minister: 10-month FDI in Iran up 50%

Foreign direct investments (FDI) in Iran increased by 50 percent during the first 10 months of the current Iranian year (March 21, 2019-January 20, 2020) compared to the same period last year, Iranian Finance and Economic Affairs Minister Farhad Dejpasand announced.

Speaking at a press conference on Tuesday, the minister said the country had witnessed this rise in foreign investments despite the tough conditions resulting from the unfair US sanctions, IRNA reported.

The official also noted that the country’s non-oil exports during the first 10 months of the current year have undergone a 20-percent rise in terms of weight.

The value of the country’s foreign trade hasn’t changed in the mentioned period compared to the figure for last year, according to Dejpasand.

He further mentioned the significant role of banks in the expansion of the country’s economy, saying that by diversifying banking services, revenue can be increased by 30 to 50 percent, while using artificial intelligence (AI) in banks can increase revenues by 17 percent and reduce costs by 25 percent.

In early December 2019, Dejpasand elaborated on his ministry’s programs to nullify the sanctions through measures such as strengthening trade and exports and providing the required funds for infrastructure and production projects, especially through the allocation of banking facilities.

He further mentioned reforming the banking system as one of his major programs since taking his post as the finance minister.


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