29 Mar 2024
Wednesday 19 June 2013 - 18:25
Story Code : 33934

Iran approves new foreign investment projects worth $54mln

TEHRAN (FNA)- The Iranian government has approved a total of 8 new plans for foreign investment worth$54 million, a senior Iranian industrial official announced on Wednesday.
"Projects ready for foreign investments include copper and copper concentrate production, production of variety of float glass, production of different ophthalmological lenses, auto spare parts," Iranian Deputy Economy Minister Behrouz Alishiri said today.

Alishiri pointed to the recent 176th Meeting of Foreign Investment Board held recently in Iran, saying that 8 new foreign investment projects were approved at the meeting.

Last month, Alishiri said the volume of foreign investment in the country has witnessed remarkable growth.

"Iran's foreign investment attraction reached $4.85 billion ceiling in last Iranian year (ended March 20, 2013)," the Iranian deputy economy minister said.

He announced that the figure hit $2.60 billion and $4.60 billion in 2011 and 2012, respectively.

Iran enjoys high capacity for attracting foreign investment in its oil and gas industries.

In April 2012, Iranian First Vice-President Mohammad Reza Rahimi invited domestic and foreign capital holders to make investment in the country's oil and gas industries, and said Iran is among the most secure countries for investment in the energy sector.
Iran, which sits on the world's second largest reserves of both oil and gas, is facing western sanctions over its civilian nuclear program.

Iranian officials have dismissed US sanctions as inefficient, saying that they are finding Asian partners instead. A large number of Chinese, Indian and other Asian firms have negotiated or signed up to oil and gas deals with Iran.

By Fars News

 

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