$2b Foreign Investment Approved | ||
$2b Foreign Investment Approved Some $2 billion of foreign investment were approved during March 20-May 20, said the chairman of the Organization for Investment Economic & Technical Assistance of Iran (OIETAI) in a press conference. With the continuation of the trend, Behrouz Alishiri estimated that the volume of approved foreign investment will reach $8-10 billion. He explained that the highest rate of foreign investment pertained to European and Asian countries. In addition, there are investors from America and Africa. Alishiri put the volume of foreign investment during last Iranian year (ended March 19) at $4.3 billion. The figure shows an 11-percent growth compared to the amount recorded the year before and 140 percent against the figure for the year to March 2008, he said. He explained that some $14.8 billion foreign investment has been attracted since 2007. According to him, the provinces of Fars, Gilan, Tehran, Kerman, Mazandaran, and West Azarbaijan are top six provinces in terms of attracting the highest volume of foreign investment during last year. Southern provinces of Bushehr and Khuzestan also drew high volume of foreign investment in the oil and energy sector, he added. Mining sector with 67.6 percent, industry with 24.25 percent, housing construction with 3.94, services with 2.5 percent and agriculture with 1.19 percent attracted the highest volume of foreign investment, he mentioned. While foreign investment has witnessed a slowdown across the world, he said, Iran has seen a growth in attracting foreign assets. He said the investment in Iran generates more income compared to other nations, explaining that Iranian market has not been saturated and there are numerous demands for investment. Alishiri listed access to regional markets, energy resources, inexpensive and skilled workforce, and proper regulations for investment as advantages of foreign investment in Iran. He referred to inking several memoranda of understanding with 12 nations, holding joint commissions with three nations, holding 12 international seminars, six provincial gatherings and one national summit as the measures taken by the Organization for Investment Economic & Technical Assistance of Iran. Over 1,000 opportunities for foreign investment in Iran have been introduced at WWW.IIO.IR website, he said. “In fact, this website is our mouthpiece for introducing the opportunities.” He continued to examine the progress of the investment projects over 500 projects were evaluated last year. On launching investment service centers across 31 provinces, he said the aforesaid centers act as a single window for investment. Respective bodies have representatives in these centers, enabling foreign investors to receive all the required services in one center, he elaborated. Pointing to the implementation of commitments of Article 11 of Development Plan Laws, he said the Privatization Organization has been expanded and facilitated. Highlighting that obstacles to foreign investment do not relate to investors, he said domestic entities should cooperate more on drawing foreign investment. He pointed out, “Demands for foreign investment should not be stalled, naming problems of financial assistance of banks, tax and customs affairs, obstacles to industrial and mining sector as problems facing foreign investment. Steps have been taken to remove the aforesaid problems, he concluded. | ||
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