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Foreign investment in Iran takes a nosedive

Source: Mehr News Agency, Tehran

Foreign investments in Iran tumbled 96 percent in the Iranian calendar year 1387 (March 2008-March 2009) in comparison to previous year, said the chairman of the Commerce Commission of the Tehran Commerce Chamber.

At the joint meeting of the commissions of the Export and Trade Bureaus of Iran Chamber and the Trade Bureau of Tehran Chamber Mohsen Bahrami-Arz-Aqdas said that the Majlis (parliament) should postpone to next year the approval of Fifth Development Plan, ILNA news agency quoted.

Bahrami stated that the plan has not included quantity goals, and the titles of the chapters have been changed.

He said that the 10 percent growth cited in the plan requires investments which have declined last year and this trend continues.

In regard to privatization goals he said that out of 357 companies legible for it only 28 companies have been transferred and in the fifth plan there is no clear procedure to correct this.

... Payvand News - 01/18/10 ... --

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