Iran expects $8B foreign investment for current year
Baku, Azerbaijan, Apr. 25
By Farhad Daneshvar - Trend:
Iran is expected to draw $8 billion-foreign investment for the current Iranian calendar year (started March 20).
The foreign investors are cautious about business in Iran, Hossein Salimi, chairman of Iranian and Foreign Joint Venture Investment Association, affiliated to Iran's Chamber of Commerce, Industries, Mines and Agriculture, told Fars news agency.
Saying that there are no serious obstacles for foreigners to invest in Iran within the law, he also explained that European countries such as Italy are keen to be involved in the Islamic Republic's business.
Amid the removal of international sanctions against the Islamic Republic, Iranian President Hassan Rouhani's government has been developing plans for attracting huge amounts of foreign investment in the post-sanctions era to renew the country's aging industry and ailing economy.
According to President Rouhani, Iran needs annual foreign investment of $30-$50 billion to reach an eight percent economic growth.