Iran Achieves New Milestone in Foreign Direct Investment, Setting Record Highs

According to SAEDNEWS: In a noteworthy announcement, the head of Iran’s Organization for Investment & Economic and Technical Assistance (OIETA), Ali Fekri, revealed on Sunday that the net foreign direct investment (FDI) attracted to Iran over the past calendar year reached a significant total of $5.5 billion. This figure marks a record in the 16-year history of the OIETA, reflecting a robust growth trend in foreign investments within the country.

Fekri elaborated on the achievements of OIETA, indicating that while permits for additional FDI projects had been issued, they were excluded from the official tally because the respective investors did not bring funds into Iran. He emphasized that an extra $2.5 billion worth of foreign investment was generated from Iranian projects during the same period, although these investments were not authorized or registered with the OIETA.

Highlighting key players in this investment landscape, Fekri mentioned that China was a significant contributor, responsible for $2 billion worth of investments in Iranian projects last year. Following China, Turkey and the United Arab Emirates, alongside Iranians living abroad, were noted as the largest foreign investors in Iran.

Addressing speculations regarding investment influx from Afghanistan, Fekri dismissed reports that suggested a surge in FDI due to Afghan investors, clarifying that Afghanistan's total investments in Iran had not exceeded $35 million in the year ending in March.

The majority of the FDI attracted to the Iranian economy in the past year has been directed toward manufacturing and mining and metals projects. Furthermore, Fekri highlighted that the total FDI authorized by the OIETA during the three years of the outgoing administration reached $11 billion, with the oil and gas sectors attracting the largest share of these foreign investments.

This record-setting FDI reflects Iran's potential for economic growth and global partnerships in the face of financial and geopolitical challenges.