Foreign Investment Soars by 32%
IRAN NEWS ECONOMIC DESK
Minister of Economic Affairs and Finance said that in the first 9 months of this current Iranian year (will end on March 20, 2020), the amount of foreign investment increased by 32 percent compared to the same period last year.
Enemies are standing up and using all their might to confront Iran, but Iran has been able to counter these threats by using its capabilities and capacities, said Farhad Dejpasand at the Melli Bank’s third “Melli Show” on Wednesday evening.
Enemies have been trying to change the Iranian political system in three months after the start of the sanctions, but today, about a year and three months after that, the enemies have failed to achieve their goals, he said.
Dejpasand noted that people in the funeral of Lieutenant General Qasem Soleimani, while well supporting the system, showed their loyalty to the martyr, and he enemies realized that the Islamic Republic’s system was consolidated in Iran and the region.
He added, “This year, 10 months into the year, despite all the restrictions, sanctions and disruptions that have been made to prevent Iran’s foreign trade and exports, the volume of foreign trade is similar to last year and its slight change has been due to changes in the value of some exported products.”
He also pointed to the opportunities and capabilities of the country in different fields, adding that Iran enjoys having vast markets in neighboring countries which can help the country during the sanctions era.
Dejpasand admitted that the productivity rate in the country is lower than 50 percent while the figure should be at least 75 percent.
The official also noted that the country’s non-oil exports during the first 10 months of the current Iranian calendar year (March 21, 2019-January 20, 2020) have experienced a 20-percent rise in terms of weight.
The value of the country’s foreign trade hasn’t changed in the mentioned period compared to the figure for last year’s nine-months, according to Dejpasand.
He further mentioned the significant role of banks in the expansion of the country’s economy, saying that by diversifying banking services, revenue can be increased by 30 to 50 percent, while using Artificial Intelligence (AI) in banks can increase revenues by 17 percent and reduce costs by 25 percent.