Iran would attract $7 billion worth of foreign direct investment (FDI) by the end of the current Iranian calendar year (March 19, 2016), said Mohammad Khazaei, the Iranian deputy minister of economy.
Khazaei said industry, agriculture, transportation and tourism are the main sectors to attract foreign investment, FNA reported on Monday.
He said, “250 investment opportunities have been identified in different provinces and we would introduce them to foreign financers.”
According to Khazaei, As much as around $45 billion to $50 billion is expected to be invested by foreign companies in Iran during the next Iranian calendar year.
Major international companies are rushing to establish a position in Iran as the Islamic Republic re-opens for business after the lifting of international sanctions.
Up for grabs is access to a market with 80 million people and annual output of some $400 billion, making Iran the biggest economy to rejoin the global trading system since the Soviet Union broke up over two decades ago.
Audi, Commerzbank, Daimler, Hellenic Petroleum, Herrenknecht, International Airlines Group, National Aluminum Co, Turkcell and Zurich Insurance are among the companies which eye investment in post-sanctions Iran.