$712m of foreign investment projects ratified

November 5, 2017 - 20:1

TEHRAN - Organization for Investment, Economic and Technical Assistance of Iran (OIETAI) has approved 31 new foreign investment projects, worth $712 million.

“Based on the sixth five-year national development plan (2016-2021), the ministry of finance and economic affairs and the central bank should attract $3 billion of foreign investments per annum,” IRNA quoted OIETAI Managing Director Mohammad Khazaei as saying on Sunday.

Since the first tenure of President Hassan Rouhani in August 2013, $21.8 billion of foreign investments plans have been ratified, the official said, adding that $14 billion have been attracted within this framework.   

After the implementation of the nuclear deal, known as JCPOA, in January 2016, which lifted economic sanctions on Iran, the country has received credit lines and finance from different countries including India, Russia, South Korea, China, Austria, and Denmark, he noted.

Signing agreements with South Korea’s Exim Bank, Austria’s Oberbank, China’s CITIC, and Denmark’s Danske Bank for opening €8 billion, €1 billion, $10 billion, and €500 million lines of credit respectively stand among economic achievements in the post-sanction era, he highlighted. 


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