TEHRAN (Iran News) – Iran’s Ministry of Industry, Mine and Trade announced on Wednesday that it has approved foreign investments worth $417.3 million in domestic industrial, mining and trade sectors since the beginning of the current calendar year (March 20).
In this period, the sector of Industry with 14 projects valued at $416.2 million ranked first in terms of the number of approved foreign investments, showing a 5.4 percent rise in this regard year-on-year, the ministry said.
It noted that the mining and trade sectors, each with two projects worth $680,000 and $500,000 respectively, ranked second and third.
The largest investments will be made in five provinces of Sistan and Baluchestan (southeastern Iran), Tehran, Alborz (northern Iran), Isfahan (Central Iran) and Kordestan (northwestern Iran), by five countries of Germany, Austria, the UAE, China and Italy, the ministry added.
In May 2019, Iranian Deputy Interior Minister Babak Dinparast announced that foreign investors in Iran would soon be able to receive the country’s five-year residency.
Dinparast added application forms will be available to foreigners through platforms run by the Iranian Ministry of Foreign Affairs, the Interior Ministry and the Central Bank of Iran (CBI).
He said Iranian President Hassan Rouhani had already authorized the implementation of the new law.
Based on the government regulations approved in July 2019, foreign investors will be able to settle in Iran having made an investment worth more than $250,000, or its equivalent in other foreign currencies, in the country.
The law also applies to foreigners who deposit the same amount of cash in Iranian banks and credit institutions.
- source : Iran Daily, Irannews