Iran needs annual foreign investment of $50 bln
Baku, Azerbaijan, April 26
By Khalid Kazimov - Trend:
Iran needs to lure $50 billion of foreign investment annually to improve its industrial sector. The head of Tehran Chamber of Commerce, Industries, Mines and Agriculture, Masoud Khansari has said that the country after years of sanctions needs to attract foreign investment and technology. At a meeting with Lower Austrian Commissioner for Economics Petra Bohuslav, Khansari called on Austrian companies to invest in Iran. In turn, Petra Bohuslav said that Austrian merchants and businessmen are interested in developing commercial ties with Iran since this country has high industrial and mineral capacities.
Earlier Iranian officials estimated that the country would attract $8 billion-foreign investment over the current Iranian calendar year started March 20. 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.