Foreign investment in Iran jumps tenfold after nuclear deal
Tehran, Iran, May 30
By Mehdi Sepahvand –- Trend:
The amount of foreign investment made in Iran has increased tenfold thanks to the nuclear deal (aka Joint Comprehensive Plan of Action or JCPOA), the government spokesman Mohammad Baqer Nobakht said.
Before the deal, that is, in 2013, the entire foreign investment permit issued in Iran was $1.4 billion, whereas in 2016 it reached $12.5, he said, Trend’s correspondent reported May 30.
Nobakht said Iran will need $650 trillion rials (about $17 billion) worth of foreign investment each year to meet the requirements of a master plan called the 6th Development Plan that outlines the country’s progress in the years 2017 to 2022.
The 6th Development Plan stipulates that Iran’s economic growth should stand at 6.8 percent.
However, things are not so easy for President Hassan Rouhani to go about his foreign relations business.
He is severely confronted by conservative rivals who say he should build the economy solely by relying on domestic resources. They go as far as to censure him for the nuclear deal as an act of betrayal.