News ID: 212034
Published: 1143 GMT March 22, 2018

FDI in industry, mine, trade sector doubles: Official

FDI in industry, mine, trade sector doubles: Official

Foreign Direct Investment (FDI) in the sector of industry, mine and trade in the past Iranian calendar year in 1396 (ended March 20, 2018) hit $4 billion, showing a considerable growth of more than twofold as compared to the last year’s corresponding period.

In the wake of implementation of Joint Comprehensive Plan of Action (JCPOA), the official title of nuclear deal, the country witnessed salient achievements, the most important of which is the growth of foreign investment in the country, the report added.

Investment growth, attracting investment companies and connecting to the world supply chain were considered as top priorities of the Ministry of Industry, Mine and Trade, the issue of which was followed up strictly in the past years.

For his part, Director General of Foreign Investment Office of the Ministry of Industry, Mine and Trade Afrouz Bahrami in an interview with MNA correspondent put the total Foreign Direct Investment (FDI) in the industry, mine and trade sector in the past Iranian calendar year in 1396 (from March 20, 2017 to March 21, 2018) at more than $4 billion, showing a considerable growth as compared to the same period of last year.

He put the FDI volume attracted in the past Iranian calendar year in 1395 (ended March 20, 2017) at $1.9 billion.

The aforementioned huge investment volume is related to a number of 69 projects in the country, he opined.

Despite US sabotaging measures taken against the Islamic Republic of Iran in the international arena, a major portion of investments has been made by the reliable European firms, the director general emphasized.

Elsewhere in his remarks, he put the Foreign Direct Investment (FDI) made in the 12th government in the industry, mine and trade sector at $32 billion.

The country witnessed €400 million worth of investment made by France’s Renault Car Mfg. Company as well as approx. €400 million worth of investment of a Chinese company in a lubricating and food industrial project in Shabestar, Tabriz at the ending weeks of the last Iranian calendar year in 1396 (ended March 20, 2018), he stressed.

In the end, Director General of Foreign Investment Office of the Ministry of Industry, Mine and Trade Afrouz Bahrami pointed out that giant steps will be taken in this regard in the current Iranian calendar year in 1397 named after “supporting Iranian products”.

   
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