Foreign Investments in Tehran Reach $1.2b in Fiscal 2020-21

Tehran Province attracted $1.2 billion of foreign investments in the form of 27 contracts during the last fiscal year (ended March 20, 2021), according to Farzaneh Dehnadi, the head of Economic and Financial Affairs Directorate of Tehran Province. 
“The province ranked first in terms of ‘attracting foreign investment’ and ‘the number of approved foreign investment projects’ in the country during the period,” she was quoted as saying by IRNA. 
According to Vaqef Behrouzi, the deputy head of the directorate, Tehran Province accounts for a quarter of Iran’s overall gross domestic products, excluding oil production.
He noted that taxation is a major source of revenue for Tehran, adding that the province alone accounts for more than half of all tax revenues earned by the country at the provincial level.