Iran Attracts $625mln Worth of FDI in Mineral, Industrial Sectors

Iran has increased its foreign direct investment (FDI) in different mining, industrial and commercial fields in the first eight months of the current Iranian years (March 21, 2018-November 22, 2018), official figures said.

"The attraction of a total of $625 million worth of foreign direct investment has been confirmed in mineral and industrial sectors," the statistics released by Iranian Ministry of Industry, Mine and Trade showed.

The huge volume of investment is related to 43 minerals, industrial and trade projects that have been approved in the Foreign Investment Board of the ministry during the same period.

The projects indicate 13.2 percent hike as compared to last year’s corresponding period.

In a relevant development in June, the United Nations reported that Iran had managed to attract over $5 billion in direct foreign investment in 2017 which showed a considerable increase compared to 2016.

"Iran has attracted $5.019 billion in direct investment last year which increased by 50 percent as compared with the previous year," the United Nations Conference on Trade and Development (UNCTAD) reported.

The annual report, issued by the UNCTAD, a permanent intergovernmental body established by the United Nations General Assembly in 1964, details the latest developments and data concerning foreign direct investments (FDI) around the globe.

The report said that following the removal of anti-Iran sanctions in 2015, Iran attracted huge sums of foreign investment in the areas of exploration and production of oil, gas, and other by-products of petroleum.

source: FARS News Agency

FDI mineral UNCTAD