OIETAI: 600-plus investment requests worth $17b approved since March
Iran has approved more than 600 foreign investment requests valued at $17 billion since the beginning of the current year, which started on March 21, according to official data.
The Iranian Labour News Agency (ILNA) reported Friday that the Organization for investment Economic and Technical Assistance of Iran (OIETAI) stated 83 investment proposals were reviewed during one session of the Foreign Investment Board in recent weeks, followed two weeks later by another session examining 36 foreign investment requests across multiple economic sectors.
The proposals covered renewable energy production and solar power plants, pharmaceutical and health industries, housing, support and international transportation services, petroleum derivatives production, services and other industrial sectors. Investors originated from Switzerland, the United Kingdom, the Netherlands, Austria, the United Arab Emirates, Turkey, Afghanistan, Azerbaijan, China, Iraq, Oman and Iranians residing abroad.
The two sessions collectively resulted in approval of 105 investment projects — 70 projects worth $3.564 billion in the first session and 35 projects valued at $198 million in the second — bringing the total approved value to more than $3.7 billion.
The Foreign Investment Board convenes monthly at the Investment Organization, where numerous foreign investment applications undergo review and approval. Twelve sessions have been held since the start of the current year, with the cumulative approvals reaching the $17 billion threshold.