|Foreign investment in Iran grows by 141% over 4 years||
TEHRAN - Foreign investments in Iran amounted to $4.37 billion in the past calendar year, which ended on March 19, 141 percent growth compared to four years ago, the head of the Organization for Investment, Economic and Technical Assistance of Iran said.
Behrouz Alishiri told the Mehr news agency that some $1.2 billion in foreign investments has been attracted since the beginning of the current year.
Foreign investment plans worth as much as $10 billion are expected to be transacted by Iran during the current year, Alishiri said earlier this month.
Foreign investment plans in Iran amounted to $4.3 billion last year, showing a 27 percent growth compared on the year before, Alishiri said on April 2.
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.
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