Baku, Azerbaijan, June 14
By Fatih Karimov - Trend:
Iran has managed to attract some $200 million worth of foreign investment in the past two months, Ahmad Jamali, director general of the Foreign Investment Office at the Organization for Investment, Economic and Technical Assistance of Iran, said.
The Iranian administration has authorized investments worth $7 billion following the removal of the international sanctions in last January, Jamali said, SHANA news agency reported June 14.
He further said that about $600 million worth of the aforementioned figure is approved by the government, adding at least 100 investment plans have been approved by Iranian administration in recent months.
Earlier in February, 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.