OIETAI 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.

The post FDI Hits $11.9 Billion during Iranian President Raisi’s Administration: OIETAI appeared first on Iran News Daily.

Attraction of Foreign Investment Projected at $6b PA: OIETAI

reporter 1222 — Tue, 13 Oct 2020 06:24:56 +0000

TEHRAN (Iran News) – The director general of the Foreign Investment Office of the Organization for Investment, Economic and Technical Assistance of Iran (OIETAI) said his country plans to attract $6 billion in foreign investments during the year to March 20, 2021.

In the first half of last year, the amount of attracted foreign investment was $1.463 billion, which has currently reached $3.8 billion, and by the end of this Iranian year, the figure is expected to reach $6 billion,” OIETAI head, Abolfazl Koudei said, according to IRNA.

He noted that according to the goals planned for the country’s economic development, including 8% economic growth, the government plans to boost foreign investments.

“In order to achieve that, in addition to external problems such as sanctions and money transfer issues, we must remove domestic barriers and problems. In this critical situation, we can make the most of the opportunity for foreign investment,” the official said.

Underlining the great capacities of the country for attracting foreign investments, he said: “Attracting foreign capital has a preliminary process that must be completed; first, the financing is defined in the Organization for Investment, Economic and Technical Assistance of Iran; then it goes to the Foreign Investment Board for approval; and finally it will lead to the issuance of a license. So, the process is not simple.”

As the situation in the country improves, the pace of encouraging and attracting foreign investment will definitely pick up; however, even if the situation remains the same, there are still methods and strategies to be utilized to facilitate the process, the official stressed.

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Iran Eyes Attracting $6b of Foreign Investment by 2021

reporter 1222 — Mon, 12 Oct 2020 20:55:11 +0000

Iran Eyes Attracting $6b of Foreign Investment by 2021

IRAN NEWS ECONOMIC DESK

TEHRAN – Iran is expected to attract $6 billion of foreign investment by the end of the current Iranian calendar year (March 20, 2021), Director-General of Foreign Investment Office of the Organization for Investment, Economic and Technical Assistance of Iran (OIETAI) Abolfazl Koudeie said.

“In the first half of the previous year, the amount of foreign investment attracted was $1.463 billion, which has currently reached $3.8 billion and by the end of this year, the amount of foreign investment is expected to reach $6 billion,” Koudeie said.

The official noted that according to the goals set for the country’s economic development, including eight percent economic growth, the government plans to boost attracting foreign investment.

Underlining the great capacities of the country for attracting foreign investment, he said: “Attracting foreign capital has a preliminary process that must be completed, first, the financing is defined in Organization for Investment, Economic and Technical Assistance of Iran, then it goes to the Foreign Investment Board for approval, and finally it will lead to the issuance of a license. So, the process is not simple.”

As the situation in the country improves, the pace of encouraging and attraction of foreign investment will definitely increase, however, even if the situation remains the same, there are still methods and strategies to be utilized to facilitate the process, the official stressed.

After the Supreme Council for Economic Coordination, the Finance and Economic Affairs Ministry, the Interior Ministry, and other influential organizations in Iran decided to facilitate the conditions of foreign investment in the country, Vice President Eshaq Jahangiri announced the Foreign Investment Promotion and Protecting Act (FIPPA) last year.

Although there are easier conditions and better incentives than in the past, the experts and economists believe that these are not adequate and the situation needs reconsideration.

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