Foreign Investment in Iran Industries Down 67%

EghtesadOnline: Iran approved $914.45 million worth of foreign investments during the period from March 2018, to February 2019, which shows a 67.4% decline compared to the $2.8 billion a year ago.

News ID: ۷۴۷۴۲۲

25 May 2019

The foreign funds were invested in 65 plus industrial, mining, and trade projects during the period. Although there was an increase in the number of projects compared to the 62 ventures in the previous year, the value shows a steep decline.

Citing data released by the Ministry of Industries, Mining and Trade, IRNA reported that over the 11 months to February 19, the most foreign investment in value terms was in one auto company in Kerman province with $230 million. A wall-mounted boiler manufacturing unit in Qazvin Province got the lowest amount with $221,000.

Among other things, projects included opening chain stores, funding car manufacturers, producing construction material, expanding urban transportation and producing iron ore concentrate, Financial Tribune reported.