Iran to assign $4 billion to attract foreign investment
Azerbaijan, Baku, August 27 /Trend/
Iran will assign $4 billion from the National Development Fund to attract more foreign investment, Fars News Agency reported quoting head of the Organization for Investment Economic and Technical Assistance of Iran Behruz Alishiri as saying.
Iran will offer $10 million prize to companies who can attract more foreign investments, he added.
Iran attracted $3.7 billion in foreign investment in last solar year (ended on March 20, 2011) with 24 percent growth.
Iran is the world's second largest reserves of gas and third in oil reserves, faces US sanctions over its nuclear program.
The U.S. Congress approved financial sanction against Iran in 2010, which imposes strict conditions for foreign investors and financial firms and prevents them to invest more than $20 million in Iran oil and gas industries.