Baku, Azerbaijan, Jan. 13
By Fatih Karimov - Trend:
Iran has a potential for $500 billion investment, Mohammad Reza Bahramen, member of Tehran Chamber of Commerce, Industries, and Mines, said.
He said $300 billion of projects have been defined for oil and energy sectors, Iran's Mehr news agency reported on Jan. 13.
If necessary infrastructures are provided and security of investment is met, domestic and foreign investors can invest up to $500 billion in the country's oil and energy projects, he added.
Iran needs to absorb foreign investment to boost its production and exports potentials.
Head of Trade Promotion Organization of Iran Valiollah Afkhami-Rad said in August 2014 that foreigners' investment in Iran will transfer new technologies to the country.
The Trade Promotion Organization of Iran intends to hold exhibitions in foreign countries to encourage foreign companies and businessmen to invest in Iranian projects.
Iran's deputy economy minister Mohammad Khazaei has said that the number of foreign investment groups has increased from 65 to 300 over the past year.
Some of the delegations represented more than 100 companies, he added.
According to United Nations Conference on Trade and Development (UNCTAD), foreign direct investment (FDI) flows to the Islamic Republic of Iran exceeded $3 billion in 2013.
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