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| Foreign investment in Iran rises 60%: official |
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.jpg) TEHRAN – Foreign investment in Iran has risen by 60 percent in the current Iranian calendar year, which ends on March 20, and is projected to reach $4 billion by the end of the year, the head of the Organization for Investment, Economic and Technical Assistance of Iran stated.
Some $7 billion worth of foreign investment plans have been approved in the current year, he said, adding that foreign investments in Iran have grown by 150 percent during the past four years, ISNA quoted Behrouz Alishiri as saying.
Meanwhile, in September 2012, 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.
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.
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