Iran says it has attracted $8.2bn of foreign investment since Aug
Iran’s incumbent administration says that the amount of foreign investment attracted into the country since it came to office in August has exceeded $8.2 billion.
A Monday report by the semi-official Tasnim news agency said that projects in Iran’s petroleum and energy sector were responsible for some $5.5 billion worth of foreign investment between August and January.
It added that foreign investment in Iran’s manufacturing sector had exceeded $2 billion over the same period, adding that investors from other countries had also committed to some $128 million worth of projects in Iran’s agriculture and mining sectors.
Foreign investment contracts approved for other sectors of the Iranian economy reached $459 million over the six months to late January, the report said.
Investors from the United Arab Emirates (UAE) were responsible for 64.9% of the foreign investment contracts signed and finalized in the past six months, said the report, adding that UAE investors would provide $5.4 billion worth of funding to 35 projects in Iran based on the contracts.
The report said that Chinese investors had been approved for $805 million worth of funding in 30 projects in Iran based on decisions adopted in the six months to late January, adding that investors from the Iranian diaspora would provide $763 million worth of investment to 97 projects.
The report cited figures from the Organization for Investment & Economic and Technical Assistance of Iran which vets foreign investors seeking to contribute to projects in the country.
Iran has sought to relax its rules on foreign investment in recent years amid efforts to offset the impacts of foreign sanctions on its economy.
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