Iran seeks to attract foreign investment for industrial projects

TEHRAN –┬áIran plans to invite foreign investors to participate in establishing industrial parks in the country, IRIB quoted Iranian deputy industry minister Fakhrollah Molaei as saying.

The investors will be also urged to invest in completing semi-finished projects which have progressed by 50 percent, he added.
There are 321 semi-finished industrial projects have been identified so far, in which 40 billion rials (about $3.3 million) has been invested, he noted.
In September 2012, the head of the Organization for Investment, Economic and Technical Assistance of Iran Behrouz Alishiri said that foreign investment plans worth as much as $10 billion are expected to be transacted by Iran during the current Iranian calendar year, which ends on March 20.
Foreign investment plans in Iran amounted to $4.3 billion last year, showing a 27 percent growth compared on the year before, Alishiri added.
Iran needs up to $400 billion in direct foreign investment to materialize its objective of 8 percent economic growth, he added.
Over the next five years, the government will need new sources of capital sourced through the input of national and international private finance, Alishiri said.
He said in October 2011 that the growth of direct foreign investment in Iran ranks amongst the highest in the world. Despite the global economic sanctions, more than 400 foreign companies are now directly investing in Iran.
Source: Tehran Times

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