Baku, Azerbaijan, May 14
By Fatih Karimov - Trend:
Iran will receive $73 billion in credit lines from international financial institutes, Mohammad Baqer Nobakht, the Iranian government spokesman, said.
Tehran has launched negotiations with foreign parties on the issue following the implementation of the nuclear deal last January, Nobakht said, Iran's IRNA news agency reported May 14.
He further said that the Islamic Republic has issued permissions for $3.418 billion foreign direct investment over the past four months as well.
Some eight presidents, five prime ministers, three parliament speaker and 18 foreign minister from different countries visited Iran in the first four months after the implementation of the Joint Comprehensive Plan of Action (JCPOA aka nuclear deal), Nobakht said.
earlier Iranian Deputy Minister of Economy Mohammad Khazaei said Tehran considers luring in $25 billion worth of foreign investment to spend on the country's development projects.
According to the United Nations Conference on Trade and Development (UNCTAD), Iran's annual inward FDI (foreign direct investment) was $2.408 billion on average during 2005-2007, while this figure for 2011-2014 was $3.523 billion.
Iran's total FDI inward from 1995 to 2011 was a little over $33 billion, according to the UNCTAD.
On March 15, Khazaei announced the approval of 14 plans worth $2.6 billion by Iran's Foreign Investment Board. The plans involved electricity production, car making, mining, and industries.