Iran needs $876b investment for its fifth development plan
Azerbaijan, Baku, Nov. 15 / Trend M. Sophie /
The fifth development plan needs $876 billion in investment, said Ali Agha Mohammadi, Iranian Deputy Vice President for Economic Affairs.
Ali Agha Mohammadi, Iranian Deputy Vice President for Economic Affairs, said to achieve 8 percent economic growth rate in a five-year period (2010-2015), $876 billion investment is required, Irna reported.
During the 2nd International Conference of Construction Industry which was held in Olympic Hotel, Tehran, Ali Agha Mohammadi said "To achieve 8 percent economic growth rate which is a necessity for sustaining of Iranian society, an 11.2 percent investment is required."
"The government's share in the investment is $180 billion and the rest should be reached by investment in the society which is not related to government," he added.
Deputy Vice President for Economic Affairs noted that the resources belong to private section. "The total investment required for the fifth development plan should be formed as services, equipments and construction in national and international level," he said.
He mentioned that the industry's share in the investment is $220 billion. "Oil and Gas industry should invest $156 billion and building construction industry should invest $170 billion in a period of five years," he added "and the shares of transportation and under constructions are also predicted.
The 2nd International Conference of Construction Industry closed on Monday evening, 14 Nov. 2011.