Iran sees 30% fall in value of authorized foreign investment in industry sector

Business Materials 19 May 2018 14:45 (UTC +04:00)

Baku, Azerbaijan, May 19


The Iranian administration authorized a $3.5 billion in foreign direct investment for industry, mining and trade sector during the last fiscal year (ended March 20), according to a the country’s ministry of Industry, Mine and Trade.

The autorized value is 31.4 percent less compared to $5.1 billion worth of projects approved by the administration in the preceding year.

According to the industry ministry, over 88 investment proposals were approved by Iran's Foreign Investment Board in the 12-month period, compared to 71 proposals in the same period of the preceding fiscal year.

Proposals submitted by investors from Germany, China, Ireland, Netherlands, Saudi Arabia, Turkey, Azerbaijan, Austria, Italy, Pakistan, India, Afghanistan, Switzerland, France, the UAE, South Korea, Iraq and Cayman Islands have been accepted as authorized projects.

According to the Iranian ministry, over 71 investment proposals (worth $5.06 billion) were approved by Iran's Foreign Investment Board in the fiscal year to March 20, 2017.

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.

The United Nations Conference on Trade and Development’s (UNCTAD) statistics indicate that Iran attracted $3.372 billion foreign direct investment in 2016, compared to $2.05 billion in 2015.