Speaker Informs of Over $60bln of Foreign Investment in Iran

Speaker Informs of Over $60bln of Foreign Investment in Iran

TEHRAN (FNA)- Iranian Parliament Speaker Ali Larijani announced that the country has attracted more than $60bln of foreign investment after implementation of the last year nuclear deal between Tehran and the world powers and the removal of sanctions.

"Over $60bln (of investment) has come (to Iran) from other states, including Russia, which can be used for the country's development," Larijani said in the Central city of Isfahan on Monday.

Minister of Industries, Mines and Trade Mohammad Reza Nematzadeh announced in July that the Iranian and foreign banks have signed tens of Memoranda of Understanding (MoUs).

"Our banks have signed 35 MoUs with foreign banks and we have inked over 215 investment agreements," Nematzadeh said, addressing a ceremony held on the occasion of Iran's National Day of Industry.

He noted that the Scandinavian countries have opened letters of credit (LCs) for Iranian producers.

"During the visits I had with Korean officials, it was announced that Iran is not just a market for their products, but they have to invest and transfer technology if they want to remain in Iranian market," Nematzadeh added.

Also, earlier this month, Nematzadeh said that Iran's industry has over attracted 1.5 billion dollars in investments in the past six months.

Nematzadeh told a press conference on the occasion of Government Week that since the 11th administration came in office, more than three billion dollars in investment has been attracted by the industry, mines and trade sectors.



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