Iran has the highest rate of attracting foreign investment in 2010
Azerbaijan , Baku, June 11/Trend/
Iran 's rate of attracting direct foreign investment in 2010 had the highest comparing to previous years, econews.ir reported quoting Deputy Minister of Economy and Financial Affairs Behrouz Alishiri as saying.
"'The final digits and statistics on foreign investment will be issued publicly but we need a month to gather the information," he said.
In 2009 the highest rate of foreign investment estimated to 86 percent growth to $3 billion , the figure indicate Iran's economic growth ranking the 6th among the countries that attracts foreign investments, he said.
The Iranian living abroad invested $10 million in 2009 while it increased in 2010 to $1.7 billion.
The European companies ranks first on foreign investment however the participation of Asian companies also increased in 2010. Iran planed to increase the investment growth to 50 percent in 2011.
The US and EU sanctions against Iran have led European companies like Total and Shell to pull out of many developing projects.
The U.S. Congress approved financial sanction against Iran in 2010 which impose strict conditions for foreign investors or financial firms and prevents them to invest more than $20 million in Iran oil and gas industries.
The United States has stepped up its efforts to isolate Iran-linked commercial entities tied to nuclear program since the United Nations Security Council ordered a fourth set of sanctions against Iran in June 2010.