Iran Welcomes Investment by Friendly Countries
IRAN NEWS ECONOMIC DESK
TEHRAN – Deputy Ministry of Industry, Mine and Trade for Planning Affairs Saeed Zarandi says the ministry has put on this year’s agenda the target of increasing exports to the friendly and neighboring countries.
Zarandi said yesterday that the ministry has set target of exporting non-oil goods worth $41b in the current year and it has been mainly focused on the neighboring states.
He said the Coronavirus pandemic and closure of borders and transportation saga created some problems for the non-oil export goods and in the first quarter of the current Iranian calendar year, Iran’s exports stood at around $6.3b.
Zarandi reiterated that this downward trend in exports has happened in most countries and it has not just been limited to Iran, reiterating that by taking some measures, most of land borders with Iran were opened and the trend for trade has improved.
He noted that petrochemical products, medicines, cement, aluminum ingot, raw steel, glass, copper cathode, tile, ceramic and steel products were the major goods exported by Iran in the first quarter despite all hurdles.
Zarandi also said Iran welcomes foreign investment especially from the friendly countries and some advantages and special services have been considered for foreign investors.
He also added that arrival of foreign-based Iranians for investment in the mine and industry is a good opportunity for the country, announcing the ministry’s readiness for cooperation.
He further noted that the ministry has determined the investment opportunities in the country and it is doing its best to encourage investors to invest in those sectors.
Zarandi added that in the first quarter of the year, 18 industrial, mineral and trade projects have been approved for foreign investment and it is expected those projects to attract some $500m.
He reiterated that indigenization of products which are imported is one of the main goals of the ministry and the ministry supports investment in production.
He said the ministry has done good job in indigenization of goods as this year, products worth $3b would be indigenized and they will be all produced in the country.
