Foreign investments in Iran's Fars province increase

Business Materials 30 March 2020 11:49 (UTC +04:00)
Foreign investments in Iran's Fars province  increase

BAKU, Azerbaijan, March 30

By Elnur Baghishov - Trend

Foreign investments in the Fars province in southwestern Iran doubled in the last Iranian year (from March 21, 2019 to March 20, 2020) compared to the year before last (from March 21, 2018 to March 21, 2019), said the governor of the Fars province Enayatollah Rahimi, Trend reports citing Fars Provincial Government's official portal.

According to Rahimi, despite the US sanctions against Iran, 11 projects worth $181 million were licensed last year.

Rahimi added that the investments were made in various sectors, including industry, agriculture, manufacturing centers, trade and housing.

The governor said that the investors represented countries such as Italy, China, Germany, the Netherlands, Austria, Qatar and some others.

"Effective steps have been taken to increase foreign investment in the Fars province. These steps include identification of regulations and reforms that could hurt income as well as investment opportunities in various economic sectors, the development of an investment roadmap, the regulation of investment programs in the province with anonymous licenses, and the promotion of investment opportunities in other countries," he said.

The US imposed new sanctions on Iran in November 2018. Over the past period, the sanctions affected Iranian oil exports, more than 700 banks, companies and individuals.