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Foreign investment in Iran up by 350%


Deputy Minister of Economic Affairs and Finance and Head of Iran's Investment Organization Mohammad Khazaie said in Ardebil on Sunday that a 350-percent increase has been observed in the level of foreign investment in Iran during the past year, IRNA reported.

Addressing a seminar of traders from Ardebil province, he added that the investments approved by Iran's Investment Organization from 1993 through late spring of 2002 amounted to dlrs 2.3 billion, while last year's figure stood at dlrs 1.3 billion.

"In recent years, Iran has made a leap in gaining international reputation in the economic sector and its investment risk rate has dropped from six to four.

"Investments can optimize management standards while improvement of public welfare will eliminate poverty and corruption," he added. Khazaie pointed out that investment in agricultural and mines mines sectors as well as tourism are among the exigencies.

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