BAKU, Azerbaijan, July 12
By Elnur Baghishov – Trend:
As many as 58 foreign investments worth $832 million were approved in Iran during the first three months of the current Iranian year (March 20 - June 20, 2020), Trend reports referring to Iran's Trade Promotion Organization (TPO).
According to the report, this is an increase of 346 percent in terms of number and 48 percent in terms of value compared to the same period last Iranian year.
“Around 13 foreign investments worth $567 million were approved in the same period last Iranian year,” the report said.
About 56 percent of foreign investment was made in the industrial, mining and trade sectors, and their total amount stood at $467 million.
"The value of foreign investment was 68 percent in the industrial sector, 20 percent in the mining sector and 12 percent in the trade sector," the report said.
According to the report, 76 percent of the approved foreign investment accounted for the Sistan and Baluchestan Province, 12 percent for the Tehran Province, 7 percent for the Alborz province and 5 percent for the Isfahan Province.
"It is planned to invest $371 million in the production of chemicals and products, $27 million in internet services and revenues, $26 million in the production of equipment and supplies, $17.5 million in the production of petroleum products and nuclear fuels," the report noted.
Most of the investment is expected to be $339 million from Germany, $32 million from the UAE, $28 million from Austria and $27 million from China.
According to the report, in terms of the number of investors Afghanistan, China, UAE, Germany, India, Turkey, Italy, Azerbaijan, Austria, New Zealand are the main countries.