Two-year FDI in Iran hits $9.2b: Official
Iran attracted $9.2 billion of foreign direct investment in the past two years, indicating 170 percent growth compared to the preceding two years, announced the head of the Organization of Investment and Economic and Technical Assistance of Iran.
Referring to the changes that have occurred regarding FDI in the incumbent government, compared to the previous one, Ali Fekri said the $9.2-billion investment is not satisfactory for us, as we still have to work a lot until we reach the desired figures, IRNA reported.
“In the Iranian year of 1401 (ended March 20, 2023), the country attracted nearly $4.2 billion of foreign investment, which was a significant increase compared to previous years.”
It is possible to set a target of about $10 billion for each year, Fekri noted, adding that its realization depends on how we can pave the ground for the entry of foreign capital.
After the signing of JCPOA in 2015, the French giant Total did not invest a single dollar in the oil and gas sector of Iran, he said, adding that Russian companies have started an oil project worth $2.7 billion in the southwestern province of Ilam.
“There were investors who had concerns about sanctions, but we opened the way for them to invest in Iran without worrying about sanctions,” the official said.
In the Iranian year of 1402, the Chinese have first place in investment as during the eight months since the beginning of this year (March 21-November 21), they have invested $1.2 billion in the fields of mining, tourism, technologies, renewable energy, sanitary products and cosmetics, he noted.
The official went on to say that after China, the UAE ranked second, with over $1 billion of FDI in Iran, and Russia ranked third in investment in our country.
He described these achievements as the result of the government’s economic diplomacy along with the development of relations with neighboring states, as well as membership in SCO and BRICS.