Iran Attracts over $9 Billion in Foreign Investment in 2 Years

A sum of $9.2 billion in foreign investment has poured into Iran after President Ebrahim Raisi took office in August 2021, an official said.

News ID: ۸۰۹۸۸۱

24 November 2023

The head of the Organization of Investment, Economic and Technical Assistance of Iran (OIETAI) said at least $9.2 billion worth of foreign investment was attracted in the last two years, $6 billion of which has actually materialized.

Ali Fekri stated that the terms and conditions for the attraction of foreign investment in the country have been upgraded in the current administration.

The deputy minister of economy added that the foreign investment has increased by 170 percent in the last two years.

He also noted that the oil and gas sectors have accounted for the maximum rate of attraction of foreign investment.

Hailing the positive effects of promotion of relations with the neighboring states on the foreign investment, Fekri noted that Iran’s membership in the Shanghai Cooperation Organization (SCO) and BRICS group of emerging economies is the result of the economic diplomacy of the administration of President Raisi and the improvement of ties with the neighbors.

President Raisi has on various occasions described plans for stronger relations with neighboring countries as an essential element of his administration. / Tasnim