TEHRAN - Iran approved 83 foreign investment proposals worth $1.5 billion in its latest investment board session, raising the total approved foreign investment in the first quarter of the year to nearly $10 billion, according to the Organization for Investment, Economic and Technical Assistance of Iran (OIETAI).

The approvals came during the 293rd meeting of the Foreign Investment Board—and its third session in the Iranian calendar year 1404 (starting March 20)—held under the chairmanship of Abolfazl Koudei, Deputy Minister and Head of OIETAI.

A total of 97 investment proposals were reviewed across a wide range of sectors, including renewable energy, solar power plants, industry, mining, capital markets, agriculture, pharmaceuticals, housing, automotive, tourism, logistics, international transportation, and services.

Investors from countries including the United Arab Emirates, Turkey, Tajikistan, Afghanistan, South Korea, China, Pakistan, Iraq, the Czech Republic, and Oman—as well as Iranian expatriates—submitted the proposals.

Following a detailed review, 83 projects valued at $1.5 billion were approved, while the remaining 14 items were deferred for further technical evaluation.

With three board meetings held so far in spring, Iran has approved over 250 foreign investment proposals, totaling approximately $10 billion. The board continues to convene monthly to assess and authorize new foreign investment opportunities.

EF/MA