BAKU, Azerbaijan, Feb. 15
By Elnur Baghishov – Trend:
A decision was made for the making of $953 million worth of foreign investments in Iran’s Tehran Province during the first 10 months of the current Iranian year (March 20, 2020 through January 20, 2021), Deputy Director of Economic Affairs and Finance Department in Tehran Province Vagif Behrouzi said, Trend reports citing the department’s website.
Behrouzi stressed that however, $242 million worth of foreign investments were made in Tehran Province in the last Iranian year (from March 21, 2019 to March 20, 2020) and $280 million worth in the preceding Iranian year (from March 21, 2018 to March 21, 2019).
He added that the process on the implementation of projects related to the foreign investment is different in Iran. Thus, the investors can usually bring their funds to Iran within 6 months to 1 year on the basis of issued licenses.
According to the deputy director, the main reason for the high figure for foreign investment in the current Iranian year is that some projects require large funds.
Behrouzi noted that Tehran Province accounts for about 12 percent of the foreign investments made in Iran in terms of value and 16 percent in terms of number.