News ID: 154670
Published: 0802 GMT July 09, 2016

$500m in foreign investment registered post-JCPOA: Nematzadeh

$500m in foreign investment registered post-JCPOA: Nematzadeh

Iran's Organization for Investment, Economic and Technical Assistance of Iran (OIETAI), registered foreign direct investment worth $500 million following the implementation of Joint Comprehensive Plan of Action (JCPOA) on January 16, said industry, mine and trade minister.

Mohammadreza Nematzadeh told the Persian daily Iran that since the 11th government assumed office in August 2013, the organization has recorded $2.5 billion in foreign investment.

In total, 127 medium- and small-sized industrial units were launched in 20 provinces backed up with the flow of foreign funds, added the minister.

Industry, Mine and Trade Ministry has relaunched 9,000 industrial units to boost the national economy, Nematzadeh said.

The minister pointed out that the Sixth Five-Year Economic Plan (2016-20) envisages a 20-percent growth in foreign investment.

He hoped for Iran will witness a leap in absorption of foreign investment adding that easing the conditions for facilities extended to industrial units will lead to economic growth.

Last year, Nematzadeh said that Iran welcomes long-term investments by Germany in the industrial sectors.

With the removal of anti-Iran sanctions, grounds will be prepared for joint investment by Iran and Germany, Nematzadeh noted in October 2015.

Germany is among Iran's major economic partners, the minister noted adding that German firms supply over 50 percent of Iran's industrial needs.

Iranian companies attach more importance to the quality of products rather than the cost, said the minister.

He added that talks are underway with many companies for long-term investment.

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