Iran needs $300 bln investment to realize 8-percent economic growth
Azerbaijan, Baku, Dec. 17 / Trend F.Milad/
Iran needs up to $300 billion-foreign direct investment (FDI) to meet objectives of its fifth five-year development plan (2010-2015), and reach a 8-percent economic growth rate, Iranian deputy finance and economic affairs minister Behrouz Alishiri said.
"Totally, the country needs around $1 trillion investment by the end of the fifth development plan," Behrouz Alishiri told ILNA news agency.
About $15 billion-foreign direct investments was attracted last (calendar) year, he added.
However, Accroding to United Nations Conference on Trade and Development's (UNCTAD) statistics, Iran attracted $3.6 billion foreign direct investment (FDI) in 2010.
The Iranian calendar year ends on March 20.
Alishiri said in October that in terms of the growth of foreign direct investment, Iran ranks among the world's top countries. Despite the global economic sanctions, more than 400 foreign companies are now directly investing in Iran's different sectors, he added.
The Iranian government has approved more than 100 foreign investment plans worth $5.3 billion for the first seven months of the current Iranian calendar year, which ended on October 22.
Iran's economic growth rate reached 4 percent last Iranian calendar year, Finance and Economic Affairs Minister Shamseddin Hosseini said in October.
The country's non-oil economic growth for the year that ended in March 2010 hit 4.2 percent, the minister said.
The Iranian Central Bank had previously reported that Iran's economic growth in the previous Iranian calendar year hit 3.5 percent including the oil sector, and 4.3 percent excluding the oil sector.
According to the World Bank predictions, Iran's Gross National Product will rise by 6.7 percent in 2011 compared to a 6.1 percent rise in 2010.