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Foreign investment in Iran grows by 83 percent

Source: Tehran Times

Foreign investment in Iran amounted to $6.8 billion in the first half of the current Iranian calendar year, which began on March 20, showing 83 percent rise year on year, the director of the Organization for Investment, Economic and Technical Assistance of Iran said.

Iran's Finance and Economic Affairs Minister Shamseddin Hosseini speaking at
Invest Iran conference - November 2011

"It is projected that Iran will attract $10 billion in foreign investment during the current year," the IRIB quoted Behrouz Alishiri as saying on Wednesday.

On September 3, Alishiri told the Mehr News Agency that foreign investment in Iran hit $4.37 billion in the previous Iranian calendar year, which is a 141 percent rise compared to four years ago.

However, Iran needs up to $400 billion in direct foreign investment to materialize its objective of 8 percent economic growth, he added.

Over the next five years, the government will need new sources of capital sourced through the input of national and international private finance, Alishiri said.

In October 2011, he noted that Iran was one of the top destinations in the world for direct foreign investment and that despite the economic sanctions, more than 400 foreign companies were directly investing in Iran.

... Payvand News - 09/27/12 ... --

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