Iran attracts about $10bln in foreign investment post-JCPOA: Minister

Tasnim– Iranian Minister of Industry, Mine and Trade Mohammad Shariatmadari said the country has managed to attract $9.7 billion in foreign investment since the coming into force of the 2015 nuclear deal with six world powers, known as the Joint Comprehensive Plan of Action (JCPOA).

Addressing a festival held in Tehran in support of the country’s industrialists, Shariatmadari said during the post-JCPA era, 244 industrial units have started their work by attracting direct foreign investment.

He also said $9.7 billion in foreign investment has been registered in the country in the mentioned period, 40% of which, amounting to about $3.9bln, has been used in projects across the country.

There has been a new wave of interest in ties with Iran since Tehran and the Group 5+1 (Russia, China, the US, Britain, France and Germany) on July 14, 2015 reached a conclusion over the text of the JCPOA and started implementing it on January 16, 2016.

The comprehensive 159-page deal terminated all nuclear-related sanctions imposed on Iran.

However, Iranian officials have complained about the failure of the other side, especially the US, to fully implement the accord, as Iran still has problems in its banking transactions with other countries.