Iran approves foreign investment plans worth $100 million

Business Materials 30 January 2013 15:18 (UTC +04:00)

Azerbaijan, Baku, Jan. 30 / Trend F.Mehdi/

Nine foreign investment plans worth $100 million, have been approved by Iran, IRIB quoted the head of the Organisation for Investment, Economic and Technical Assistance of Iran as saying.

The plans are related to iron concentrate, industrial bread, motorcycles and mineral water production as well as decorative flower cultivation, Alishiri added.

New jobs will be created and contribute to the expansion of exports and the promotion of modern technologies, he noted.

In September 2012, Alishiri said that foreign investment plans worth as much as $10 billion are expected to be transacted by Iran during the current Iranian calendar year which ends on March 20.

Foreign investment plans in Iran amounted to $4.3 billion last year, showing a 27 per cent growth compared to the previous year, Alishiri added.

Iran needs up to $400 billion in direct foreign investment to materialise its objective of an eight per cent economic growth, he added.

Over the next five years, the government will need new sources of capital sourced through the input of national and international private finance, Alishiri said.