Iran attracts $4.3 billion in foreign investment last year

The Iranian minister of economic affairs and finance says Iran attracted some USD 4.3 billion in foreign investment during the past Iranian calendar year (ended March 19, 2012).
Shamseddin Hosseini said that, according to statistics, foreign investment in the country grew from USD 1.8 billion five years ago to USD 4.3 billion last year, demonstrating an increase of 140 percent, Mehr news agency reported.

The minister added that a total of USD 2 billion in foreign investment was approved for 18 projects in the country in the first two months of the current year (started March 20, 2012), indicating a 120-percent rise, compared to the amount for the same period last year.

He went on to say that investment service centers have been established in 31 provinces in Iran to boost foreign investment.

Hosseini further pointed out that about 20 percent of the assets of the National Development Fund (almost USD 8 billion) can be used along with the foreign investment to boost national growth and development.

Iran has a vast capacity for attracting foreign investment in its oil and gas industries.

In October, the finance minister assured foreign investors of the safety of their investment in the Islamic Republic.

“The country’s political conditions are suitable for drawing foreign investments,” Hosseini said.

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