Report: Foreign Investment Tripled Over Past 4 Months

Date: 05 August 2020 - 21:58

News ID: ۸۱۴۶۱

TEHRAN (Dispatches) - Iran has approved 32 new projects with direct investment from foreign nationals as authorities say the value of foreign direct investment (FDI) schemes approved over the past four months has tripled compared to the similar period last year.
A report by the Iranian finance ministry said that new FDI projects will be scattered in 12 out of the 31 Iranian provinces with an investment value of $1.6 billion.
The report said the new investment will come from nationals of various countries and will cover projects in energy, manufacturing, agriculture, transportation and services sector.
FDI projects should gain the approval of Iran’s Organization for Investment & Economic and Technical Assistance before they can be implemented. The body has endorsed more than $2.4 billion worth of new projects in the current Iranian calendar year that began late March.
The figure shows a three-fold increase year on year in late July, said the finance ministry report, adding that foreigners will bring investment to a total of 60 new projects that have been approved this year.
The growing foreign investment in Iran comes despite restrictions imposed by the United States on the country’s ability to engage in normal banking and finance activities with other countries.
Chief Executive of Qazvin Industrial Towns Hamid-Reza Khanpour said that total of €470 million worth of investments have been made by foreign investors in Qazvin Industrial Towns within the framework of Foreign Direct Investment (FDI).
So far, a number of 17 foreign investors have invested 470-million-euro worth of capital in Qazvin Industrial Parks and Towns, he reiterated.
He went on to say that foreign investors present in Qazvin Industrial Towns are from countries including Germany, France, Poland, Italy, South Korea, India, Turkey, Iraq, Afghanistan, and Pakistan.