TEHRAN (Iran News) – The Ministry of Industry, Mining and Trade has approved 158 foreign investment projects valued at about $2.469 billion in the past Iranian calendar year 1399 (ended on March 20), up 189 percent compared to its preceding year.
According to the latest data released by the ministry, the number of approved projects has also increased 92 percent in the previous year.
The Industry Ministry had approved 82 foreign investment projects with a total investment of $854 million in calendar year 1398.
Of the total number of investment projects in the past year, 90.5 percent (143 projects) was the share of industry sector, 4.4 percent (seven projects) was the share of mining sector, while trade-related projects accounted for 5.1 percent (eight projects) of the total figure.
The highest volume of foreign investment approved in the industry, mining, and trade sectors in the period under review were in the categories of chemical materials and products, base metals, paper and paper products, as well as transportation logistic activities, respectively.
China, Germany, the United Arab Emirates (UAE), Canada, and Austria were the top five countries with the highest volume of investment, while, Khuzestan, Sistan-Baluchestan, Fars, Hormozgan, and East Azarbaijan provinces were the top five provinces in terms of the volume of approved foreign investment.
Afghanistan, Turkey, China, Germany, and the United Arab Emirates were also the top five investors in terms of the number of approved projects.
As previously reported by the Industry Ministry, Iran expects a 10-fold increase of foreign investment in the industry and mining sectors by the end of the Sixth Five-Year National Development Plan (March 2022).