Baku, Azerbaijan, Aug.4
By Fatih Karimov - Trend: Keshavarzi (agriculture) Bank of Iran has paid about $1.5 billion to different sectors of the domestic agricultural projects in the first four months of the current Iranian year.
The bank's governor Mohammad Talebi said it is expected that $8 billion in loans will be paid by the end of the current year, Iran's IRNA news agency reported on August 4.
The current Iranian calendar year began on March 21. The U.S. dollar to the Iranian rial exchange rate is about 31,000 rials in Iran.
Mahmoud Hojjati,Iranian Agriculture Minister said on May 28, attracting sufficient capital for expanding agricultural industries meeting international standards are among priorities of the Agriculture Ministry.
The government has provided all the necessary grounds for the activity of foreign investors in the country, he noted.
He further said that agricultural crop in Iran amounts to 90 million tons annually.
Iran has already offered incentives to foreign investors. The package of incentives covers a wide range of issues; from tax exemptions to providing facilities, Press TV reported.
According to Iranian officials, foreign investors in agriculture sector will not have to pay any taxes; this is while foreign investment tin industry and mining will be exempted up to 80 percent.