Tehran to host international finance and investment exhibition

Iran Materials 7 May 2012 12:49 (UTC +04:00)

Azerbaijan, Baku, May 07/ Trend F.Milad/

Some 250 companies from Iran and several other countries are attending the sixth international exhibition on bourse, bank and insurance which will open on Tuesday at the Tehran Permanent International Fairgrounds.

Turkey, Canada, Pakistan, France, Belarus, Georgia and Afghanistan are the foreign participants at the exhibition which will run until Friday, the IRNA News Agency reported. The number of participants has grown by 65 per cent compared to the previous event

Foreign investment plans in Iran amounted to $5.3 billion in the past calendar year, which ended on March 19, showing a 27 per cent growth compared to the year before, deputy economy minister Behrouz Alishiri said on April 2.

IRNA news agency quoted Alishiri as saying that up to three billion dollars as foreign investment was carried out last year.

Some 1.1 trillion dollars is needed to be invested during the fifth five-year economic development plan (2010-2015) to ensure the eight per cent growth rate, Alishiri said on February 26.

Domestic sources have the potential to meet around 56 per cent of the required sum and the rest should be provided through foreign investment, he noted.

Iran needs up to $300 billion in foreign direct investment (FDI) to meet the objectives of its fifth five-year development plan (2010-2015) and reach the eight per cent economic growth rate, Alishiri said.