News ID: 217534
Published: 0249 GMT June 30, 2018

Iran mulling plan to absorb more foreign funds

Iran mulling plan to absorb more foreign funds

Iran is weighing a new plan to create a committee in a bid to absorb more foreign investment and boost its production and exports potential, said Iran's minister of industry, mine and trade.

According to Trend News Agency, Mohammad Shariatmadari told reporters on Saturday, "We, at the Ministry of Industry, Mine and Trade, have developed a plan to establish a committee and attract foreign capital."

Underlining that two major countries, one in the region and one in Europe, will be briefed on the plan, he said the ministry wants to absorb foreign funds in parallel with the activities of his ministry in this respect.

Iran attracted $24.95 billion in foreign investments from September 23, 2013 to September 22, 2017, according to Afrouz Bahrami, the director general of the Ministry of Industry, Mine and Trade's Foreign Investment Office.

Bahrami added that the figure accounts for less than two percent of all the FDI drawn worldwide during the period.

Germany, China, Turkey, Austria, the UAE and France were the top investors in Iran during the period under review.

The most attractive industries for foreign investors in Iran were polymer and chemicals, steel, trade, motor vehicles, mining, plastic and medical devices.

The most attractive Iranian provinces for foreign investments during the period were Alborz, Tehran, Khorasan Razavi, Fars, West Azarbaijan, Kerman, Zanjan and Qazvin.

   
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