Foreign investment at $1.8 bn under Iran’s new government

An administration that came to office in Iran in August on a platform of boosting relations with the outside world says it has approved $1.8 billion worth of foreign investment projects.

News ID: 2000199

EghtesadOnline: Iran’s Ministry of Economic Affairs and Finance said on Sunday that a total of 182 foreign investment projects had been approved by its subsidiary the Organization for investment Economic and Technical Assistance of Iran (OIETAI).

It said projects were in Iran’s oil and gas, renewables, car manufacturing, pharmaceuticals, food, construction, tourism, transport, services and agriculture sectors.

A latest batch of foreign investment applications approved in an OIETAI meeting on Sunday covered investors from 16 countries, including from five European countries, and Iranians living abroad, said the organization.

It said the new projects were worth $500 million, adding that it will continue to hold monthly meetings to discuss more foreign investment projects.

The announcement comes amid efforts by the Iranian government to open up to investors from the region and around the world amid sanctions that restrict the country’s access to foreign investment and technology. / Mehr