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2024/03/16
Iran Greenlights Over $400 Million in Foreign Investments for 2023
During the 278th session of the Foreign Investment Board, foreign investments exceeding $450 million were approved across various economic sectors. |
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In the most recent meeting of the foreign investment committee within the current Iranian fiscal year (from March 20, 2023, onwards), investment plans totaling $450 million in diverse fields such as industry, healthcare, agriculture, construction, tourism, urban infrastructure, services, and transportation were given the green light.
Shada reported that these projects originate from a variety of countries, including China, Turkey, Iraq, India, Afghanistan, the United Arab Emirates, Saudi Arabia, Russia, Pakistan, and Iranians residing abroad. These investments span sectors like oil and gas, water resources, electricity, transportation, telecommunications, construction, industry, agriculture, and mining.
To streamline and expedite the investment approval process, monthly meetings of the Foreign Investment Board are conducted at the investment organization to review foreign investment requests, grant approvals, and issue permits promptly.
In 2023, a total of 318 projects valued at over $5.5 billion were sanctioned, marking a significant increase compared to the previous year.
The 278th session of the Foreign Investment Board took place at the Persian Gulf Amphitheater of the Organization for Investment Economic and Technical Assistance of Iran (OIETAI), with members of the Board in attendance, including representatives from the Plan and Budget Organization, Ministry of Foreign Affairs, and Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA). |
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