$625mn worth of FDI approved in mineral, industrial sector in seven months

TEHRAN, Jan. 01 (MNA) – Statistics of the Ministry of Industry, Mine and Trade show that $625 million worth of Foreign Direct Investment (FDI) has been approved in mineral and industrial sector since the beginning of the current year up to the end of Iranian month of Mehr (March 21 – Oct. 22).

This huge volume of investment is related to 43 minerals, industrial and trade projects that has been approved in the Foreign Investment Board of the ministry in the same period.

The aforementioned projects indicate 13.2 percent hike as compared to the last year’s corresponding period but they have faced a significant 66.1 percent decline in terms of total volume of foreign investment.

The ministry put the total value of FDI approved in seven months of the current year (March 21 – Oct. 22) at $1.844 billion.

It should be noted that countries including the Netherlands, Austria, India, Afghanistan, Turkey, Singapore, UK, France, Poland, China, Germany, Switzerland, Bahrain, Italy, UAE, Iraq, Taiwan, Kazakhstan and Republic of Azerbaijan have embarked on investing in Iran in this period.

World Bank (WB) put Iran’s economic growth rate in 2017 at 3.8 percent. In addition, the bank predicted that Iran’s economic growth will experience a significant decline due to high inflation rate, exchange rate fluctuation and reimposition of US sanctions against Iran.

According to WB experts, economic growth of the country will witness a significant growth in 2020.

MA/IRN83154620

News Code 141105

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