Economy, Domestic Economy

FDI Tops $5 Billion in Six Months

FDI Tops $5 Billion  in Six MonthsFDI Tops $5 Billion  in Six Months

A senior government official says 66 foreign direct investment projects worth $5.16 billion are being implemented after the nuclear agreement (Joint Comprehensive Plan of Action) came into effect in January.

Head of Management and Planning Organization, Mohammad Baqer Nobakht, says, “These projects are mostly in transportation, renewable energy, tourism, recycling, electronic industries, food and machinery.

Mehr News Agency quoted him as saying that the country managed to attract $6.71 billion for 63 FDI projects in the fiscal Iranian year that ended in March.

In the previous year the FDI was a meager $920 million for 41 projects.

The nuclear deal signed between Iran and the six world powers (the five permanent members of the UN Security Council plus Germany) in July 2015 saw the easing of sanctions on Tehran in exchange for curbs on its disputed nuclear program.