Iran Expects Six-Fold Rise in Foreign Investments

A member of Tehran Chamber of Commerce said the number of foreign direct investment projects in Iran is expected to increase six-fold by next March.

Foreign investments in Iran for each Persian calendar year (starting 21 March) stood at about $2 billion, Feriyal Mostofi said.

He added that once contracts between Iranian and foreign firms are finalized, the Islamic Republic will attract $10 billion to $12 billion of foreign investments, according to Press TV.

Based on figures released by the United Nations Conference on Trade and Development (UNCTAD), Iran attracted $2.05 billion and $2.10 billion in 2015 and 2014.

Iran had been off limits to global investors as a result of anti-Tehran sanctions that banned major investments in the country, specifically in its oil and gas industries that provide the lifeline of its national revenues.

(Source: Tasnim, under Creative Commons licence)

No comments yet.

Leave a Reply