France to invest more in Iran’s health sector

Business Materials 27 December 2017 17:44 (UTC +04:00)

Baku, Azerbaijan, Dec. 27‎

By Fatih Karimov – Trend:

The Iranian administration has authorized a project for producing blood bags in Iran by French investment.

According to a report released by the Islamic Republic’s ministry of Industry, Mine and Trade, French Macopharma, one of the leaders in establishing infusion, transfusion and biotherapy systems, will invest $8.892 million in the project, in cooperation with an Iranian private company.

Last year, Ali Akbar Pourfathollah, the head of the Iran Blood Transfusion Organization, said that Iran plans to join the countries producing blood bags in cooperation three foreign companies.

The French company, with a 50-percent share in production of blood bags, has agreed to produce six million blood bags, according to Pourfathollah.

The Iranian industry ministry’s data unveils that Organization for Investment, Economic and Technical Assistance of Iran (OIETAI) has ratified the investment increase for the project by Macopharma Fardavar (join company) in September.

The data, which covers first seven months of Iran’s current fiscal year (March 20-Sept. 22), also indicates that the value of authorized foreign direct investment has reached $1.834 billion.

The figure has increased by 28 percent, compared to $1.438 billion worth of projects approved by the administration in the same period of the preceding year.

Over 38 investment proposals, including 32 new projects were approved by OIETAI in the 7-month period, compared to 35 proposals in the first seven months of the last fiscal year.

Germany stood at the top of the list of approved investment projects with $720.87 million for construction of a production plant of photovoltaic panels.

During the mentioned period, statistics from the Iranian government put the Irish investors in second place with $466.155 million worth of investments for a mining extraction and exploitation project, followed by China with a $232.551 million and Denmark ($102.056 million).

According to the Iranian ministry, over 71 investment proposals (worth $5.06 billion) were approved by Iran's Foreign Investment Board last fiscal year (ended March 20). The value was $6.7 billion for the preceding fiscal year (ended March 2016), registering a big growth compared to $915 million in 2015, when the international sanctions against Iran were in place.