Minister of Industry, Mine and Trade Mohammad-Reza Nematzadeh has welcomed investments by Iranian expatriates in domestic industries, saying: “The manufacturing sectors can forge partnership with Iranian expatriates to benefit from their financial resources and reduce reliance on banks,” Mehr News Agency reported on Friday. President Hassan Rouhani has long pinned hopes on convincing Iranian expatriates to invest in their homeland. An estimated 5 million Iranian expatriates have reportedly invested over $500 billion in the US, Europe, Canada, Australia, China, India and Hong Kong among other countries.
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