The Organization for Investment, Economic and Technical Assistance of Iran registered $3 billion in foreign direct investments in the first quarter of the current Iranian year (March 21-June 21).
This comes as Iran remains under strict economic sanctions imposed by the West over the country's nuclear energy program, IRNA reported.
According to the United Nations Conference on Trade and Development, foreign direct investment in Iran equaled $2.1 billion in the entire 2014 despite the fact that many foreign companies had stopped investments in Iran during 2009-2012 because of sanctions.
Based on the OIETAI report, the pattern of foreign investment inflows to Iran does not show any direct link to the interim nuclear deal reached between Iran and the P5+1 (the five permanent members of UN Security Council plus Germany) in Geneva in November 2013. In fact the decline in FDI inflows to Iran began in 2012 before the new government, led by President Hassan Rouhani came to power, the report added.
The Organization for Investment, Economic and Technical Assistance of Iran is responsible for receiving and processing all foreign investment applications as well as approving overseas Iranian investments. In other words, the organization is in charge of promoting and implementing two-way foreign investment flows.
