News ID: 272828
Published: 0234 GMT August 12, 2020

Foreign investments in Iran triple over past year: Official

Foreign investments in Iran triple over past year: Official

Despite the most severe sanctions against Iran, the volume of foreign investments in Iran has tripled in the current year in comparison to the same period last year, said director general of Organization for Investment Economic and Technical Assistance of Iran (OIETAI).

Hailing the positive approaches of foreign investors to Iran, Abolfazl Kudehi said on Wednesday that at the last meeting of the foreign investment board of OIETAI, some licenses were issued for 45 investment projects that 32 of which were new, and the rest was aimed at developing the investments, reported Mehr News Agency.

According to the official, the investment volume of these projects which are being implemented in 12 provinces of the country totals $ 1.6 billion.

Foreign investments are being carried out in the sectors of services, mines, auto industry, petrochemical and chemical products as well as foodstuff industries.

Gholamreza Ansari, Iran’s deputy foreign minister for economic affairs, said in July that inflowing capital into the country depends on various reasons; one of them is the business environment.

Since a foreign investor who wants to bring his/her own capital into the country, wants to ensure about returning on profits and capital principle, we have to guarantee its security, Ansari said.

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