Iran plans to seek 8 to 10 billion dollars worth of foreign investment during the current Iranian year (ending March 20, 2013), head of the Organization for Investment, Economic & Technical Assistance of Iran (OIETAI), announced yesterday.
According to the Public Relations Department of the Organization for Investment, Economic & Technical Assistance of Iran (OIETAI), Behrouz Alishiri who was addressing a press conference held in the organization here yesterday, said it is scheduled that some 2 billion dollars worth of foreign investment to be attracted in the first two months of the current year, up to May 20.
On his organization's approach to seek foreign investment during 2007-2012, he stated foreign direct investment stood at 1.8 billion dollars in 2007 while last year's figure was 4.3 billion dollars, reaching 14.8 billion dollars in total during these years.
Alishiri, also deputy finance minister of the Islamic Republic of Iran, added investment in the country during the last Iranian year (ended March 19) shows an 11 percent growth compared to the year before and 140 percent rise against 2007.
He went on to say that implementation of investment plans required 20-30 percent foreign investment and 70-80 percent domestic investment adding, "When $4.3 billion foreign investment is attracted, it means some $12 billion is also added to the amount from domestic resources.
Referring to the amount of foreign investment in provinces, Alishiri noted that Bushehr and Khuzestan provinces enjoy the highest volume of foreign investment which mostly goes for oil and gas sectors.
He further stated that provinces of Fars, Gilan, Tehran, Kerman., Mazandaran and West Azarbaijan ranked first to sixth place in attracting foreign investment in the country.
Pointing to his organization's plan in this regard, he stated that holding negotiations and signing agreements by joint committee, holding conferences and workshop to introduce the country's investment opportunities and identifying investment opportunities are among the OIETAI's program to promote foreign investments made in Iran.
He added facilitating the implementation of the projects, identifying opportunities and removing shortcomings in cooperation are the approaches of the OIETAI to boost investment.
On April 2 Alishiri had reported that Foreign investment plans in Iran amounted to $5.3 billion last year, showing 27 percent growth compared to the year before.
"Up to three billion dollars of foreign investment was transacted last year but Some 1.1 trillion dollars of investment is needed for the length of the Fifth Five-Year Economic Development Plan (2010-2015) to materialize a 8-percent growth rate", Alishiri said on February 26.
Domestic sources have the potential to meet around 56 percent of the required sum, while the rest should be provided through foreign investment, he noted.
Iran needs up to $300 billion in foreign direct investment (FDI) to meet the objectives of its Fifth Five-Year Development Plan (2010-2015), Alishiri said.
Also last week Mr. Hosseini the Finance Minister of I.R. Iran had announced that the per capita income stands at $13,000 in Iran. He also added that the International Monetary Fund has named the country as the 17th major economy in the world.
Per capita income is a measure of mean income within an economic aggregate, such as a country or city. Per capita income is often used as a measure of the wealth of the population of a nation, particularly in comparison to other nations.
Between 2006 and 2011, the gross domestic product (GDP) of Iran increased from $241 billion to $482 billion, the IRNA News Agency quoted Hosseini as saying.
He also added that the value of the capital market rose to around $110 billion from $53 billion.
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