Investment in Iran’s industry hikes by 19.5%

Business Materials 17 July 2016 14:46 (UTC +04:00)

Baku, Azerbaijan, July 17

By Khalid Kazimov – Trend:

The volume of annual investment in the industrial sector of the Islamic republic surged by 19.5 percent over the last Iranian calendar year that ended March 20, the country’s central bank suggested in its latest statistics.

Some 1160.7 trillion rials (according to the official rate on July 17 per US dollar makes 30,885 rials) worth of investment was made in the country’s industries in the mentioned period, IRNA news agency reported.

Over the last Iranian year, the number of permissions issued for launching industrial unites decreased by 11.9 percent year-on-year reaching 14,844 permissions.

This while in the winter (December 21, 2015 and March 19, 2016) 371 trillion rials worth of investment was made in the industrial sector indicating 179.4 percent growth year on year.