BAKU, Azerbaijan, April 20. The foreign investments attracted in Iran's oil and gas sector amounted to $4.8 billion in the last Iranian year (from March 21, 2023 through March 19, 2024), the Ministry of Economy and Finance of Iran said, Trend reports.
According to the information, foreign investments in Iran's oil and gas sector were attracted within the framework of five projects.
The information shows that foreign investments in Iran's oil and gas sector amounted to 41.3 percent of foreign investments attracted to the country.
The report indicates that foreign investments worth $11.6 billion were attracted to Iran last year. The foreign investments were attracted through 643 projects.
To note, foreign investors have not been interested in investing in various projects in Iran in recent years. The reason for this is that in 2018, the US withdrew from the Comprehensive Plan of Joint Action between Iran and the 5+1 group (Russia, China, the UK, France, the US, and Germany) regarding Iran's nuclear program. New sanctions were imposed against Iran with the US withdrawal from this plan. As the sanctions covered many industries, major companies refused to operate in Iran. This has led to various problems in Iran's economy. Iran is currently encouraging foreign companies to resume operations in the country to achieve economic development.
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