FDI in Iran hits new record, exceeds $3.6b in 2010: report
Foreign direct investment (FDI) in Iran hit a new record in 2010 and surpassed 3.6 billion dollars despite sanctions imposed on the Islamic Republic, the United Nations Conference on Trade and Development (UNCTAD) reported.
According to the UNCTAD's report titled "World Investment Report", Iran's breakthrough has occurred while many states witnessed a decline of FDI in 2010. FDI in UAE, South Korea, Saudi Arabia, India, Qatar and Kuwait has fallen sharply in 2010, the report cited.
The FDI flow to Iran in 2010 increased around 20% compared to the year before, UNCTAD said. FDI in Iran in 2009 reached $3b.
Foreign direct investment in Iran has witnessed a tremendous growth of 139% during 2008-2010, reaching from $1.6b in 2008 to $3.6b in 2010.
Iran was among the few countries which witnessed FDI growth in 2009 and 2010.
Iran attracted almost 11.9 billion dollars worth of finances from abroad, of which $3.6b was FDI, $7.4b from international commercial banks' loans and around $900m loans and projects from international development banks.
The report also showed that Iran's position in ranking of Doing Business in the world has improved 13 steps in 2010, placed the country in 129th in the world.
Global FDI flows increased slightly in 2010 reached $1.24 trillion (a growth of 4.9% compared to 2009), but still is less than 2008 figures.
According to the report, the FDI flows at the end of 2010 were still some 15 percent below their pre-crisis average of $1.472 trillion and nearly 37 percent below their peak in 2007 of $1.971 trillion.
UNCTAD predicts the recovery of FDI flows will continue in 2011 and will reach a total of some $1.4 to $1.6 trillion. Thereafter flows are forecast to rise to $1.7 trillion.