Foreign direct investment Archives - Iran News Daily

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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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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