Russia Top Foreign Investor in Iran: Official

Russia Top Foreign Investor in Iran: Official

TEHRAN (Tasnim) – The head of the Iran Investment Organization said the Russian Federation stood in the first place in terms of foreign investment made in the country in the current Iranian calendar year (started March 21, 2023).

Deputy Minister of Economy Ali Fekri said, "A total of 578 investment projects have now been launched in the country within the framework of the Foreign Direct Investment."

Iranian President Ebrahim Raisi has emphasized removing the trade barriers in line with attracting more foreign investment in the country, he said. 

It is expected that the total value of foreign investment in these projects will reach $10.608 billion, he added.

The maximum foreign investment has been made in the oil and gas sectors of the country, reaching $4.8 billion, he noted.

Russia has had the maximum investment on the projects over the past three months, accounting for more than 31% of the total foreign investment, followed by the United Arab Emirates (UAE), China and Iranians residing abroad respectively, he said, Mehr news agency reported. 

According to him, about 10 percent of these projects under FDI will be invested by Iranians residing overseas.

Turning to the mechanism of foreign investment in the country, Fekri said effective steps have been taken in the current administration in line with boosting foreign investment.

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