Iran approves $134m new foreign investment plans

The Organization for Investment, Economic and Technical Assistance Of Iran (OIETAI) has approved 134 million dollars worth of new foreign investment plans in the country, IRIB reported on Wednesday. OIETAI head Behrouz Alishiri said that the newly approved plans are related to industry and tourism sectors as well as fuel products and packaging industry. Executing these plans will improve Iran’s economy by increasing job creation, accelerating transfer of technology and developing exports, he added. He has previously predicted that there will be considerable growth in foreign direct investment in Iran during the current Iranian calendar year (began on March 21, 2011). The Islamic Republic of Iran has beaten a historical record in attracting direct foreign investments in recent years. In 2010, the country has broken a record in attraction of direct foreign investment, and statistics indicate that we had the highest investment attraction rate compared with all the previous years. In 2009, the Islamic Republic also saw the highest rate of foreign investment attraction and with an 86-percent growth, the figure hit the all-time record of $3 billion, and ranked Iran among the top six countries in this respect.