Iran eyes luring $5.8b in foreign investment

Business Materials 21 June 2017 16:38 (UTC +04:00)

Baku, Azerbaijan, June 21

By Khalid Kazimov – Trend:

President Hassan Rouhani’s government has, so far, drawn $2.2 billion in foreign investment to develop the country’s industrial and mining sectors and the administration is hopeful to attract $5.8 billion in near future.

Afrouz Bahrami, an official with Ministry of Industry, Mine and Trade, has said that $2.2 billion has been allocated for developing 81 projects within his ministry, IRNA news agency reported.

He added that the government over the past four years has approved plans for developing 263 projects through foreign investment which is estimated at $18 billion.

Bahrami said that $8 billion out of the total amount is expected to go to 178 projects in the industrial, mining and trade sectors.

According to the government, Spain has invested $3.2 billion in Iran ranking first in putting investment in the country over a period of one year since December 2015.