Minister: Iran needs more investment
Azerbaijan, Baku, Dec. 8 / Trend M. Moezzi/
More investments must be made in Iran to increase workers' wages, Iran's Minister of Economic and Labour Affairs told an audience, IRNA reported.
The government considers the sanctions imposed against Iran as an opportunity, Seyed Shamseddin Hosseini said on Wednesday. He added that it is also working on codifying a banking reform law.
According to the United Nations Conference on Trade and Development's statistics, the amount of direct foreign investments in Iran rose from 1.6 billion in 2008 to 3.6 in 2010.
Looking at Iran's National Development Plan (2005-2025), the country needs $500 billion investment in the oil sector until 2025. The country is producing 3.6 million barrels of oil per day and keeping this production level and developing oil projects needs $48 billion investment in a year, according to official statements.
Iran has not published its GDP growth statistics nor the amount of investment attracted since 2008.