Latest on authorized industrial foreign investment projects in Iran
Baku, Azerbaijan, July 26
The Iranian administration authorized a $31.441 million in foreign direct investment for industry, mining and trade sector during the first two months of the current fiscal year, according to a the country’s ministry of Industry, Mine and Trade.
The authorized value is 27 percent less compared to $43.26 million worth of projects approved by the administration in the same period of the preceding year.
According to the industry ministry, 8 investment proposals were approved by Iran's Foreign Investment Board in the 2-month period, compared to 4 proposals in the first two months of the last fiscal year.
Proposals submitted by investors from Netherlands, Turkey, Austria, India, Afghanistan, France and Singapore been accepted as authorized projects.
Investors from Netherlands ranked first among the foreign investors with three proposals worth $16.193 million, followed by Austria ($6.039 million) and India ($4 million).
According to the Iranian ministry, over 88 investment proposals (worth $3.5 billion) were approved by Iran's Foreign Investment Board in the last fiscal year, ended March 20.
The value was $5.1 billion for the preceding fiscal year (ended March 2017), meanwhile the figure stood at $6.7 billion in the fiscal year to 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.