FDI Archives - Iran News Daily

FDI Hits $11.9 Billion during Iranian President Raisi’s Administration: OIETAI

mahla — Wed, 19 Jun 2024 21:39:57 +0000

TEHRAN (Iran News) –According to the OIETAI, 713 projects within the framework of Foreign Direct Investment (FDI), valued at $11.926 billion, were approved by the Foreign Investment Board from August 2021 to June 22, 2024, IRNA reported.

Of the total foreign investment projects approved, 91 were related to the investment made by China, valued at $2.148 billion, the organization added.

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FDI inflow to Iran rises over 6% in 2021: UNCTAD

mahla — Tue, 14 Jun 2022 04:44:08 +0000

TEHRAN (Iran News) – The United Nations Conference on Trade and Development (UNCTAD), in its latest investment report dubbed “International Tax Reforms and Sustainable Investment”, has said foreign direct investment inflow to Iran increased by 6.4 percent in 2021 compared to the previous year.

The report, published on June 9, put the Islamic Republic’s FDI inflow at $1.429 billion in 2021, while the figure stood at $1.342 billion in 2020.

According to the report, Iran also had $82 million in foreign direct investment in other countries in 2021, up from $78 million the previous year.

UNCTAD has also put the global foreign direct investment in 2021 at $1.582 trillion, indicating a growth of 64 percent compared to the previous year. The figure stood at $962 billion in 2020.

“Global flows of foreign direct investment recovered to pre-pandemic levels last year, reaching $1.6 trillion. Cross-border deals and international project finance were particularly strong, encouraged by loose financing conditions and infrastructure stimulus. However, the recovery of greenfield investment in the industry remains fragile, especially in developing countries,” the report said.

This fragile growth of real productive investment is likely to persist in 2022. The fallout of the war in Ukraine with the triple food, fuel, and financial crises, along with the ongoing COVID-19 pandemic and climate disruption, is adding stress, particularly in developing countries, UNCTAD said in its report.

Global growth estimates for the year are already down by a full percentage point. There is a significant risk that the momentum for recovery in international investment will stall prematurely, hampering efforts to boost finance for sustainable development, it added.

The United Nations Conference on Trade and Development was established in 1964 as an intergovernmental organization intended to promote the interests of developing states in world trade.

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Rouhani Lauds Opening Petrochemical Projects despite Sanctions

reporter 1222 — Thu, 06 Aug 2020 10:27:03 +0000

TEHRAN (Iran News) – Iranian President Hassan Rouhani lauded the inauguration of three major petrochemical projects with a total investment of 1.6 billion dollars as a major step towards development despite sanctions.

“Today we are witnessing the transformation of the petrochemical industry. Today’s inaugurations were doubly gratifying because when we want to distance ourselves from crude oil exports and turn them into valuable products, one of the ways is to develop and transform the petrochemical industry,” said Rouhani on Thursday at the inauguration ceremony of Kaveh Methanol and Kimia Pars Middle East projects in Bushehr and Lorestan Petrochemical Catalyst unit, via video conference.

“The inauguration of three important national and petrochemical infrastructure projects worth about $1.6 billion is a valuable step in the development of the country,” Iranian President noted.

He added, “As the Minister of Petroleum stated, the total value of our petrochemical production in 1997 was one billion dollars, which at the beginning of the Administration of Prudence and Hope, this figure reached $11 billion.”

Rouhani stated that 17 petrochemical projects would be inaugurated in the country this calendar year, which began on March 20, and specified, “These projects are for setting the ground for and materializing the third leap of the petrochemical industry, which will take place in 1404 (2025).”

He continued, “The value of our petrochemical production was $1b, which has now reached $11b, and again it will increase from $11b to $25b, and from $25b to $37b, which means a great development in the country’s petrochemical industry.”

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Gov’t Approves $1.6b in New Foreign Investment Projects

reporter 1222 — Thu, 06 Aug 2020 01:04:39 +0000

Gov’t Approves $1.6b in New Foreign Investment Projects

According To Iran News, Iran has approved 32 new projects with direct investment from foreign nationals as authorities say the value of foreign direct investment (FDI) schemes approved over the past four month has tripled compared to the similar period last year.

A report by the Iranian finance ministry said that new FDI projects will be scattered in 12 out of the 31 Iranian provinces with an investment value of $1.6 billion.

The report said the new investment will come from nationals of various countries and will cover projects in energy, manufacturing, agriculture, transportation and services sector.

FDI projects should gain the approval of Iran’s Organization for Investment & Economic and Technical Assistance before they can be implemented. The body has endorsed more than $2.4 billion worth of new projects in the current Iranian calendar year that began late March.

The figure shows a three-fold increase year on year in late July, said the finance ministry report, adding that foreigners will bring investment to a total of 60 new projects that have been approved this year.

The growing foreign investment in Iran comes despite restrictions imposed by the United States on the country’s ability to engage in normal banking and finance activities with other countries.

The sanctions, imposed in 2018 after Washington decided to pull out of an international deal on Iran’s nuclear activity, have sought to deter governments and entities around the world from getting involved in development projects in Iran.

Government figures published earlier this year showed FDI into Iran had declined significantly in the year ending March 2019 at below $1 billion.

Meanwhile last week the latest data released by Iran’s Industry, Mining, and Trade Ministry showed that the country’s industrial parks managed to attract 231 investors with a total $2.1 billion of investment in the previous Iranian calendar year (ended on March 19).

This amount of investment led to the creation of 19,862 jobs in the industrial parks and zones.

According to the Industry Ministry, over 1,100 exporting industrial units are operating in the country’s industrial parks and zones whose annual export reaches up to $12.64 billion.

Based on the report, 62 export management companies (EMC) with an annual export of $236 million were identified in these areas and 72 export consortia with a total annual export of $352 million were also formed in the mentioned period.

The ministry also reported that 23 memorandums of understanding (MOU) were signed with foreign partners to develop international cooperation between small and medium industries in the previous Iranian calendar year.

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Nearly 60 FDI Plans Approved in Q1

reporter 1222 — Tue, 14 Jul 2020 04:58:51 +0000

TEHRAN (Iran News) – In the first quarter of the current Iranian year (March 20-June 20), 58 foreign direct investment (FDI) plans worth $832.6 million were approved in Iran, according to a report by the Ministry of Industry, Mine and Trade.

A total of 26 plans of the industry, mine and trade sector, with a total value of $467 million, has the lion’s share among the approved projects, reported shatanews.ir.

Of the 26 investment plans, in terms of value, the share of the industrial sector is 68 percent, the mining sector stands at 20 percent, while that of the trade sector is 12 percent.

Chemical products, Internet businesses, coke, and the products of oil refining are the main areas of proposed FDI plans during the three-month period.

The top four countries in terms of value are Germany, UAE, Austria, and China, while Afghanistan has the largest number of plans with eight, followed by China, the UAE, and Germany, the report said.

The provinces of Sistan and Baluchestan, Tehran and Alborz are ranked first to third, respectively, in terms of the value of foreign investment approved.

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Last year approved foreign investments worths $854m; Iran

reporter 1222 — Sun, 19 Apr 2020 06:15:41 +0000

TEHRAN (Iran News) – Iran approved 82 projects worth $854 million in the previous Iranian calendar year, ending March 19, for implementation in domestic industrial, mining and trade sectors with foreign investments.

According to last year figures by the Ministry of Industry, Mine and Trade pertaining to foreign investments in domestic projects, of the total number of registered companies willing to implement the 82 plans, 33 percent entirely consist of foreign stakeholders and 48 percent is shared by domestic and foreign partners, IRNA reported.

Statistics show that the industrial sector accounted for 98 percent of the investments, the mining sector had a 12 percent share and 1.88 percent pertained to the trade sector.

In addition, the highest amounts of investments were made in plans in provinces of Zanjan (northwestern Iran), Khorasan Razavi (northeastern Iran), Kermanshah (western Iran), Hormuzgan (southern Iran) and the capital Tehran, respectively.

Investors willing to take part in the projects of these provinces have been from the UAE, the Netherlands, China, Turkey, and Germany.

Investors from India and Hong Kong have shown greater interest in investing in the domestic mining sector’s projects, such as extracting and processing magnesite and producing nepheline and syenite concentrate.

Investments in the trade sector have been mostly in projects including the construction of restaurants, web- and software-based goods registration and production of leather handicrafts.

The largest amounts of investments in the trade sector in this period pertained to the production of tobacco, foodstuffs, and beverages, non-metallic minerals, chemicals, coke and oil byproducts, respectively.

In addition, Afghanistan, with 14 plans, accounted for the highest number of approved projects, followed by Turkey (13), China (11), the UAE (six), Austria (six), Iraq (five) and India (five).

Khorasan Razavi Province (20 projects) was the main target of investments followed by provinces of Tehran (11) and Qazvin, East Azarbaijan and Khuzestan, each with five projects.

Moreover, provinces of Zanjan, Khorasan Razavi, Kermanshah and Hormuzgan accounted for 54 percent of the total approved foreign investments.

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Stats: 6.5% decrease of FDI in industrial projects

reporter 1222 — Sun, 12 Apr 2020 05:57:45 +0000

TEHRAN (Iran News) – Iran’s industrial, mining and trade sectors witnessed a 6.5 percent decrease, year-on-year, in terms of the value of approved foreign direct investment (FDI) in their projects in the 11 months of the previous Iranian calendar year (March 21, 2019-February 19, 2020), according to the official stats.

In this period, the total value of FDI in the projects of the sector stood at $854 million, Mehr News Agency reported.

In the same time span, 82 industrial, mining and trade projects were approved by the country’s Foreign Investment Board, indicating a 26.2 percent growth year-on-year.

The board had approved 65 projects, worth $914 million, pertaining to these sectors from March 21, 2018-February 19, 2019.

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FDI in Iran Increased till January

reporter 1222 — Wed, 05 Feb 2020 06:32:47 +0000

TEHRAN (Iran News) – Foreign direct investments (FDI) in Iran increased by 50 percent during the first 10 months of the current Iranian year (March 21, 2019-January 20, 2020) compared to the same period last year, Iranian Finance and Economic Affairs Minister Farhad Dejpasand announced.

Speaking at a press conference on Tuesday, the minister said the country had witnessed this rise in FDI despite the tough conditions resulting from the unfair US sanctions imposed on Iran, IRNA reported.

The official also noted that the country’s non-oil exports during the first 10 months of the current year have undergone 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, 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.

In early December 2019, Dejpasand elaborated on his ministry’s programs to nullify the sanctions through measures such as strengthening trade and exports and providing the required funds for infrastructure and production projects, especially through the allocation of banking facilities.

He further mentioned reforming the banking system as one of his major programs since taking his post as the finance minister.

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Mehran border Exports Increased

reporter 1222 — Sun, 26 Jan 2020 10:02:29 +0000

TEHRAN (Iran News) – Exports to Iraq through the border terminal in Mehran, located in the west of Ilam province, amounted to about 1.829 million tons during the ten months to January 20.

Director-General of Ilam Customs Administration Ruhollah Gholami said on Sunday the country’s exports to Iraq through the major gate witnessed a 35% increase in volume, compared with the corresponding period of last year.

According to him, over 94,000 trucks carrying goods for exports to Iraq passed through the Mehran Border Terminal in the period, also sowing a 39% growth year-on-year.

Iran’s exported commodities to Iraq through Mehran Border mainly include cement, agro products, steel products, plastic products, cars, car parts, and petrochemicals.

In spite of US sanctions imposed against the country, Iran’s attraction of foreign investment in the same period increased, showing a 32 percent hike as compared to the last year’s corresponding period, Dejpasand highlighted.

Also, non-oil export volume of the country recorded a 20 percent growth in 10 months of the current year (from March 21 to Jan. 22), he added

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Iran FDI rises 20% in seven months

reporter 1222 — Mon, 09 Dec 2019 13:25:45 +0000

TEHRAN (Iran News) – Minister of Economic Affairs and Finance (MEAF) Farhad Dejpasand said that Iran Foreign Direct Investment, FDI, registered a 20 percent growth in the first seven months of the current Iranian calendar year (started March 21), showing growth as compared to the last year’s corresponding period.

He made the remarks on Mon. in the Parliament and said, “under the tough sanctions imposed by the US against the Islamic Republic of Iran, Foreign Direct Investment or known as FDI, increased 20 percent at large.”

The Ministry of Economy has tried to follow up on one of the methods of financing through attracting direct investment in the country especially in the sanctions period, Dejpasand added.

As Dejpasand has announced earlier, the government is to make major amendments in the privatization method of state-run companies, the related information of which is to be revealed in a few days.

He added that despite the US economic terrorism, Iran has still enough ability to export.

Last month on November 10, President Rouhani said: “Despite all pressures, our non-oil exports are in good conditions and this means that the entire country is working hard, and today, we need to step up our efforts for more development.”

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