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Iran sees 100-percent growth in foreign investments this year

Business Materials 14 July 2012 08:53 (UTC +04:00)
Foreign investment plans as much as $10 billion are forecasted to be approved by Iran in the current calendar year, which ends on March 20, 2013, showing 100-percent growth year on year, Iranian deputy finance and economic affairs minister said.
Iran sees 100-percent growth in foreign investments this year

Azerbaijan, Baku, Jul.13/ Trend F.Milad/

Foreign investment plans as much as $10 billion are forecasted to be approved by Iran in the current calendar year, which ends on March 20, 2013, showing 100-percent growth year on year, Iranian deputy finance and economic affairs minister said.

Behrouz Alishiri added that some $2.5 billion in foreign investment plans were approved during the first quarter of the current (calendar) year, the IRNA News Agency reported on Friday.

Foreign investment plans in Iran amounted to $5.3 billion last year, showing a 27-percent growth compared to the year before, Alishiri said on April 2.

Iran needs up to $400 billion in foreign direct investment (FDI) to materialize the objective of 8-percent economic growth, he noted.

Over the next five years, the government will need new sources of capital, participation of the domestic and foreign private sectors as well, he said.

Alishiri said in October 2011 that in terms of the growth of foreign direct investment, Iran is among the world's top countries. Despite the global economic sanctions, more than 400 foreign companies are now directly investing in different sectors in Iran, he added.

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