Iran approves $215 million worth of projects to absorb foreign investment
Tehran, Iran, May 7
By Milad Fashtami - Trend:
Iran approved seven new projects with the estimated value of $215 million in order to absorb foreign investment.
Deputy Minister of Economic Affairs and Finance Behrouz Alishiri said that an Iranian expatriate plans to invest five million Euros in a meat-processing unit in Iran's central Hamedan province, Iranian IRNA News Agency reported on May 7.
"A tourism complex will also be constructed in Iran's northern Golestan province," he said, adding that once the complex comes on stream, some 550 direct job opportunities will be created.
Iran approves projects in different fields to diversify the options for foreign investors.
Alishiri, also the head of the Organization for Investment, Economic and Technical Assistance of Iran, said in November that oil and gas, industry and housing are the three top sectors which absorb the most of foreign investments.
Iranian Industry, Mine, and Trade Minister Mohammadreza Nematzadeh said in October that Iran will increase the value of foreign investments in the country by $8 billion in the next four years.
He expressed hope that the international sanctions would be lifted in the mentioned period, the IRNA News Agency reported.
"Based on international studies, each one dollar of foreign investment will bring two dollars of profit for the host country," Nematzadeh said.
"Iran needs to absorb foreign investment to carry out high-tech projects," he added.