Iran presents 150 projects worth $300b to foreign investors at Shanghai forum
Iran has prepared about 150 projects in 11 strategic sectors with an estimated value of $300 billion, Deputy Economy Minister Mehdi Heidari said at an Iran-China investment and trade conference in Shanghai, referring to the country’s foreign investment opportunities, according to a Sunday report by IRNA.
The Iran-China Investment and Trade Conference was held on the sidelines of the ninth China International Import Expo in Shanghai. Heidari, a deputy minister of economic affairs and finance, said about 30 of the projects are in petrochemicals and require more than $45 billion in investment.
Heidari also said Iran needs about $250 billion in investment over the next five years to modernize and develop its energy and infrastructure sectors, citing broad needs in those areas.
The event, held under the theme “Cooperation Opportunities in the Iran-China Trade Supply Chain,” drew about 300 Chinese economic actors, representatives of trade associations, chambers of commerce and official institutions. It introduced Iran’s investment, export and industrial capacities in various fields.
Meanwhile, Iranian Ambassador to China Abdolreza Rahmani Fazli noted the 55th anniversary of contemporary diplomatic relations between Iran and China and the 10th anniversary of their comprehensive strategic partnership. He stressed the need to use existing capacities to expand economic and technological cooperation.
Rahmani Fazli said Iranian companies in energy, petrochemicals, mining, agriculture, food industries and emerging technologies were present at the ninth China International Import Expo. He said Iran’s national pavilion focused on scientific and technological capacities in addition to traditional products.
Medical diagnostic equipment, nanomedicine, biopharmaceuticals and medicinal plants were among the capabilities presented at the pavilion and could provide a basis for developing shared value chains with Chinese companies, he said. He also listed joint research, emerging industries, clean production, technical standards, infrastructure, renewable energy, smart transportation and the green economy as important areas for cooperation.
Rahmani Fazli expressed hope that the forum would create direct links among economic actors, investors and companies from both countries and help identify joint projects and turn the opportunities presented into operational cooperation.
Hossein Rouzbeh, head of the Organization for Development of International Scientific and Technological Cooperation, stressed the need to move beyond the traditional model of trade exchanges and toward technological, industrial and joint investment partnerships.
In the petrochemical sector, the focus was on cooperation with Chinese companies to upgrade production capacity, complete petrochemical projects and expand markets for higher value-added products.
During the forum, representatives of Iranian and Chinese companies and institutions discussed project introductions, industrial cooperation, financing methods, investment guarantees and possible participation in supply and production chains.
The Iranian side emphasized its readiness for long-term cooperation and partnership with Chinese investors, saying that such cooperation, if operationalized, could increase non-oil exports, complete value chains, transfer technology and strengthen economic ties between Iran and China.