Iran initiates plans to attract more foreign investments

Business Materials 4 May 2013 14:56 (UTC +04:00)

Azerbaijan, Baku, May.4/ Trend F.Karimov/

Iran has initiated three plans to attract more foreign investments in the current [Iranian calendar] year, IRNA quoted Iranian Deputy Finance And Economic Affairs Minister Behrouz Alishiri as saying.

The plans, which will be launched by the next two months, include restructuring the organization for foreign investments, implementing a unified window platform for investments, and offering incentives to investors, he added.

The amount of foreign investment in Iran reached its peak in the past [Iranian calendar] year 1391, the Mehr News agency quoted Alishiri as saying.

The investment figure has been reported to the United Nations Conference on Trade and Development (UNCTAD), he said, adding, "If UNCTAD approves the figure, we will announce it."

The past Iranian calendar year ended on March 20.

However, Alishiri said that foreign investment in the country rose by 45 percent compared to the year 1390.

Iran needs around $1.3 trillion to materialize objectives of its fifth five-year economic development plan, Alishiri said on Wednesday.

To this end, annually $300 billion should be invested, he added.

Iran's fifth five-year economic development plan ends in 2015.