Dlrs 14.5 billion is needed to be invested in Iran annually in line with global standards, Director General of the Economic Affairs Department at Ministry of Economy and Finance Mohammad Taheri said in Tabriz on Wednesday, IRNA reported.
Taheri told the International Seminar of Foreign Investment Opportunities that Iran has not yet been able to achieve its targets in terms of investment due to lack of comprehensive laws.
He hoped that ratification of the Law on Attraction of Foreign Investment would help promote national economy and attain economic objectives.
He put the amount of assets held by expatriate Iranians at dlrs 600 billion and said attraction of the sum would help upgrade Iranian economy.
The International Seminar of Foreign Investment is underway in this northwestern provincial city for two days.
Some 270 projects, worth dlrs 2.2 billion, are to be offered for foreign investment at the seminar.
The meeting aims to make the participants acquainted with each other.
Some 200 foreign and 500 Iranian investors are taking part in the seminar.
... Payvand News - 8/14/03 ... --