Publish Date: 25 December 2024 - 19:22

Tehran, IRNA - Iran’s Foreign Investment Board has approved over $705 million in foreign investment following a review of dozens of requests from international investors.

During a meeting of the board on Wednesday, the fifth such session under President Masoud Pezeshkian, a total of 74 requests related to foreign investment were discussed, with 71 receiving approval, according to a report from the Ministry of Economic Affairs and Finance.

Of the approved requests, 50 were new proposals for foreign investments in the country.

The requests for increases to existing foreign investments covered a wide range of economic sectors, including renewable energy, pharmaceutical and health industries, food industry, construction, electronics, tourism, transport and logistics, agriculture, as well as steel, aluminum, and copper industries.

These requests were submitted by investors from various countries, including the United Arab Emirates, China, Germany, Hong Kong, India, Canada, Austria, Armenia, Oman, Turkey, Pakistan, Iraq, Afghanistan, as well as Iranians residing in Qatar, France, and the United Kingdom.

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