Foreign investment flourishing in Iran

Home »  News »  Foreign investment flourishing in Iran

Deputy Minister and President of the Organization for Investment, Economic and Technical Assistance said that attracting $ 3.372b shows that foreign investment is flourishing in Iran.

The UNCTAD wrote in its recent report, published in June 2017, that Iran has attracted more than $3.37 billion, showing a 64-percent growth.

The report also says that foreign investment in Iran had declined for a few years. But in 2016, Iran signed 3 international investment agreements and could get close to pre-sanction situation.

Mohammad Khazaei said that in the last Iranian year (ending on March 20, 2017) Iran received an unprecedented number of foreign investment applications from which $ 10.4b were approved of and the necessary guarantees were issued.

He added the number shows a 55% growth compared to the previous Iranian year.

Throughout the eight-year period before President Rouhani foreign investment agreements had been signed with Eritrea, Djibouti, Burundi, Ghana, Kenya, the Comoros, Gambia, And Bissau Guinea. And after the nuclear deal, the Joint Comprehensive Plan of Action (JCPOA) that was signed on July 14, 2014, Iran has signed agreement with Japan, Russia, Singapore, Slovakia, Luxemburg, Iraq, and Tanzania; also the agreements with Czech Republic, Croatia and Lithuania have been finalized and are ready to be signed, according to Khazaei.

He added that regarding the provinces that absorbed the investments, Eastern Azerbaijan, Western Azerbaijan, Esfahan, Tehran, Qazvin, Kerman and Razavi Khorasan have been more successful than others.

UNCTAD is a permanent intergovernmental body established by the United Nations General Assembly in 1964. Its headquarters are located in Geneva, Switzerland, and it has offices in New York and Addis Ababa.

UNCTAD is part of the UN Secretariat. It reports to the UN General Assembly and the Economic and Social Council but has its own membership, leadership, and budget. It is also part of the United Nations Development Group.

The Division on Investment and Enterprise of UNCTAD serves as the focal point for all matters related to foreign direct investment and multinational enterprises in the United Nations System. It builds on more than four decades of experience and international expertise in research and policy analysis on investment and enterprise development, fosters intergovernmental consensus-building, and provides technical assistance to over 150 countries.

Leave a Reply

Your email address will not be published. Required fields are marked *