Foreign investment approved for industry, mining, trade projects rises 5.4%

June 19, 2020 - 15:18

TEHRAN- The value of foreign investment approved by the Ministry of Industry, Mining and Trade during the first two months of the current Iranian calendar year (March 20-May 20) increased by 5.4 percent compared to the same period last year, ISNA reported.

According to the latest data released by the Industry Ministry, the total foreign investment approved by the ministry in the mentioned period amounted at $417.3 million, registering a $21.4-million rise compared to the $395.9-million for the last year’s same time span.

As reported, investment packages were approved for the implementation of 18 industry, mining and trade projects in the mentioned period, also indicating a 28.5 percent rise in terms of the number of projects compared to the previous year’s same two months.

Back in April, the Industry Ministry published the foreign investments data for the first Iranian calendar month of Farvardin (March 20-April 20), according to which in the mentioned month the southeastern Sistan-Baluchestan province attracted more than 70 percent of the approved foreign investments in Iran, while 76 percent of the investments were made by German companies.

Also, the share of industry in these projects was 78 percent, while trade and mining projects accounted for 11 percent of the projects in terms of number.

The largest volume of foreign investment in Farvardin was made in the chemical and coke manufacturing groups, and petroleum refinery products.

As previously reported by the Industry Ministry, Iran expects a 10-fold increase of foreign investment in industry and mining sectors by the end of the Sixth Five-Year National Development Plan (2021).

EF/MA

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