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155 Iran projects attract $7bn foreign investment

TEHRAN, April 9, 2017

Iran's Ministry of Industries, Mines and Trade revealed that 155 projects were implemented nationwide over the past four years which drew $7 billion in foreign investment, said a report.

The ministry said that Iran’s President Hassan Rouhani had adopted a plan to absorb $8 billion in foreign investment for implementing 159 projects, added the Iran Daily News report, citing Irna.

The data show that the incumbent administration, which assumed office in 2013, has almost succeeded in materialising its plan.

The ministry further noted that over 19,000 incomplete projects involving investments of around $20 billion have become operational in the past four years.

The Rouhani administration has made all-out efforts to encourage foreign investment by placing on its agenda the easing of business environment, simplifying cumbersome regulations that retard productivity and innovation, stifle economic growth and inhibit foreign investments.

The removal of sanctions which began in January 2016 has stimulated activities among foreign investors seeking to benefit from Iran's lucrative markets after Iran and the major world powers signed a nuclear deal in July 2015, added the report.




Tags: | Iran | investment | Projects | foreign |

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