Economy, Domestic Economy

$32b Domestic Investment Recorded in 10 Months

$32b Domestic Investment Recorded in 10 Months$32b Domestic Investment Recorded in 10 Months

Official statistics for the first 10 months of the past Iranian calendar year that ended on March 20 indicate that some 919 trillion rials ($32.8 billion at official exchange rate) were invested in the 38 regions and provinces across the country, Persian economic daily Donya-e Eghtesad reported.

Bandar-e Anzali, Chaharmahal and Bakhtiari province, Ardabil province, Aras Free Trade and Industrial Zone and Kermanshah Province recorded the highest investment growth during the 10-month period compared with the similar period in the preceding year.

As per the statistics, Bandar-e Anzali registered more than 2,500 percent growth in absorption of capital compared with the previous year, attracting as much as $844 billion ($30.14 million) investment from merely $32 billion ($1.14 million) in the previous year. Chaharmahal and Bakhtiari Province stood second with 1,600 percent boost in the level of investment, followed by Ardabil Province with 738 percent rise. Aras Free Trade Zone and Kermanshah Province experienced 330 percent and 304 percent increase in regional investment respectively.

Meanwhile, regions such as Qeshm Free Zone, and the provinces of Ilam, Bushehr, Gilan and North Khorasan registered the highest decline in regional investment during the period. As per the statistics, Qeshm Free Zone recorded 100 percent slump in investment absorption while Ilam received 89 percent less investment during the 10-month period compared with the previous year.  Bushehr Province recorded 87 percent decline in regional investment followed by Gilan and North Khorasan provinces with 78 and 72 percent drop respectively.

The leading provinces with the highest investment absorption during the period were Chaharmahal and Bakhtiari, Yazd, Kerman, Khorasan Razavi and Ardabil provinces in a descending order. Over the aforementioned period, as much as 68 trillion rials ($2.42 billion) in investment was absorbed in the Chaharmahal and Bakhtiari Province, while 65 trillion rials ($2.32 billion) was invested in Yazd Province, followed by 60 ($2.14 billion) trillion rials in Kerman Province, 59 trillion rials ($2.10 billion) in Khorasan Razavi Province and about 59 trillion rials ($2.10 billion) in Ardabil Province.