News ID: 151355
Published: 0749 GMT May 14, 2016

Iran attracts over $3b direct foreign investment in post-JCPOA period

Iran attracts over $3b direct foreign investment in post-JCPOA period

Iranian government spokesman Mohammad Baqer Nobakht said on Saturday Iran has attracted over $3 billion of direct foreign investment after Tehran struck a nuclear agreement, also known as JCPOA, with world powers last year.

Nobakht called on the Iranian envoys to boost efforts to attract more foreign investors for water, environment and railway transportation projects within the framework of the resistance economy plans, IRNA reported.

He announced that the country's crude exports have doubled after the implementation of the landmark nuclear deal.

"Iran's oil exports have increased more than two times after the nuclear deal," Nobakht said while addressing a gathering of Iranian ambassadors and envoys to foreign states in Tehran.

The International Energy Agency said Thursday Iran’s oil production has risen faster than expected, reaching levels not seen since before nuclear-related sanctions were tightened in 2011, the Wall Street Journal reported.

Iran ramped production up by 300,000 barrels a day month-on-month in April, hitting 3.56 million barrels a day, according to the IEA’s closely watched monthly oil-market report. The output is now at levels not seen since international nuclear-related sanctions were extended.

Iranian exports increased at greater rate, with preliminary data suggesting a month-on-month rise of 600,000 barrels a day to about two million barrels a day. However, the dramatic increase from 1.4 million barrels a day seen the previous month, may have been helped by loadings that spilled over from March, the Paris-based agency said.

Foreign Minister Mohammad Javad Zarif, who also attended the conference, said the Iranian envoys should focus on the country’s economic development and people’s livelihood in a way that the people would feel the outcome of the nuclear deal.

“We have gathered together here to exchange views on all the new chances and opportunities for making use of the nuclear agreement in the light of the resistance economy,” he added.

Referring to some opposition to Joint Comprehensive Plan of Action (JCPOA) in the US, Zarif said certain opponents to the nuclear deal, who have the record of supporting the Zionist regime, tried to slow down the implementation of the deal by pursuing their close-minded views.


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