Foreign investors to establish chain stores in Iran

Iran Materials 5 September 2012 12:30 (UTC +04:00)

Azerbaijan, Baku, Sep.5/ Trend F.Milad/

A number of chain stores will be established in Iran backed by foreign companies, the Iranian deputy industry minister said.

Procedures have been streamlined to encourage foreign investors, Hasan Radmard told the Mehr news agency.

Foreign direct investment in Iran rose by 141 per cent in the past calendar year which ended on March 19, compared to four years ago, reaching $4.37 billion, the head of the Organisation for Investment, Economic and Technical Assistance of Iran said.

Behrouz Alishiri added that foreign investment has amounted to $1.2 billion since the beginning of the current year.

Foreign investment plans worth as much as $10 billion are expected to be transacted by Iran during the current year, Alishiri said earlier this month.

Last year these stood at $4.3 billion, showing a 27 per cent growth compared to the previous year, Alishiri said on April 2.