Iranian industry minister talks foreign investment volume

Business Materials 9 February 2018 12:09 (UTC +04:00)

Baku, Azerbaijan, Feb. 9

By Khalid Kazimov – Trend:

Iran's Minister of Industry, Mine and Trade Mohammad Shariatmadari has disclosed the volume of foreign direct investment (FDI) attracted to industry sector over the current fiscal year (starting March 20).

Mohammad Shariatmadari said that the country’s industry sector lured FDI worth $1.9 billion since President Hassan Rouhani took office for a second term last August, IRNA news agency reported.

He added that about 40 percent of the total figure was made in the form of equipment.

The country also attracted FDI worth of $7 billion over the first term of President Rouhani, which began in 2013 and ended in 2017.

However, the latest report released by the country’s ministry of Industry, Mine and Trade, suggests that the Iranian administration authorized FDI worth $2.1 billion during the first eight months of the current fiscal year (started March 20, 2017), which is 57 percent less compared to the same period of the preceding year - $4.83 billion worth of projects.

The fall came after the value witnessed a rise by 58 percent during the first half of the current fiscal year (March-September 2017) up to $1.831 billion.