Industry Ministry attracts $2bn FDI in 100 Days

Iran’s Industry Ministry Attracts $2bln in Foreign Investment in 100 Days: Minister

Iranian Minister of Industry, Mine and Trade Mohammad Shariatmadari said his ministry has managed to attract $2 billion in foreign investment (FDI) during the 100 days since the 12th administration came into office.

In remarks released on Saturday, Shariatmadari hailed the growing trend of the country’s economy during President Hassan Rouhani’s second term in office and said during the first 100 days of the 12th administration, the Ministry of Industry, Mine and Trade has attracted about $2 billion in foreign investment.

He added that the investments have been attracted for 37 projects of the country’s medium and small industries.

This proves that, in spite of all US pressures, in the atmosphere created after the 2015 nuclear deal, known as the Joint Comprehensive Plan of Action (JCPOA), there is a keen interest among other countries in investing in Iran, the minister added.

The remarks come against the backdrop of a new wave of interest in ties with Iran after Tehran and the Group 5+1 (Russia, China, the US, Britain, France and Germany) on July 14, 2015 reached a conclusion over the text of the comprehensive 159-page deal on Tehran’s nuclear program and started implementing it on January 16, 2016.

The nuclear agreement terminated all nuclear-related sanctions imposed on Iran.

However, Iranian officials have complained about the failure of the other side, especially the US, to fully implement the accord, as Iran still has problems in its banking transactions with other countries.

(Source: Tasnim, under Creative Commons licence)

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