Iran approves over $5 bn in foreign investment in key sectors

Iran's Foreign Investment Board approved more than $5 billion in foreign investments during its 286th meeting under the new administration, according to a statement from the Ministry of Economy on Wednesday.

News ID: ۲۰۰۰۳۳۶

21 November 2024

EghtesadOnline: The board reviewed 83 proposals, including new foreign investment requests, capital expansions, and licensing modifications. Of these, 77 requests from foreign investors received approval.

The approved investments include 50 new proposals spanning sectors such as oil and gas, renewable energy, automotive, pharmaceuticals, food production, construction, tourism, electronics, transport and logistics, steel industries, services, and agriculture. Investors originate from diverse countries, including the UAE, China, Australia, India, Sweden, Switzerland, Oman, Turkey, Pakistan, Iraq, Afghanistan, and members of the Iranian diaspora. The total value of these approved projects amounts to $5.08 billion.

This session marked a record both in the number of projects reviewed in a single meeting and the volume of investments approved.

To streamline and expedite the process for granting foreign investment licenses, the Foreign Investment Board convenes every month within the Organization for investment Economic and Technical Assistance of Iran. / Mehr