SHAFAQNA (Shia International News Association) – Presence of foreign investors in Iran is growing, Director General for foreign investment office of the Organization for Investment, Economic and Technical Assistance of Iran (OIETAI) Abolfazl Koudeie said on Wednesday.
Speaking to reporters, he added that presence of the foreign investors’ delegations in Iran has increased eight times more than the previous years.
Koudeie said that government has done its best to facilitate foreign investment and has removed many of their concerns.
Ease of sanctions and removal of parts of international restrictions has helped increase of presence of foreign investors in Iran, he announced.
Foreign direct investment in Iran (FDI) has been hindered by international sanctions, although the Iranian government had liberalized investment regulations in early 2000s.
Foreign investors have concentrated their activities on a few Iranian economic sectors including oil and gas industries, vehicle manufacturing, copper mining, petrochemicals, food, and pharmaceuticals.
The value of foreign investment in Iran during the last Iranian calendar year (ended March 20, 2014) reached 16 billion dollars showing more than 100 percent growth as compared with the year before, which was 7.5 billion dollars.
Ease of anti-Iran sanctions as a result of the Joint Plan of Action signed between Iran and the six world powers (the US, Russia, China, France, Britain and Germany) in Geneva in November 2013 has increased foreign investors’ desire to invest in Iran.