Aug 27, 2019, 8:45 PM
Journalist ID: 2382
News Code: 83454380
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4-fold growth in attraction of foreign investment

Tehran, Aug 27, IRNA - Foreign investment in Iran at the end 2018 rose to $5.1 billion showing a 3.9-percent growth compared to 2013 or the start of President Hassan Rouhani's first term in office.

Due to insufficient domestic capital to carry out the projects, attracting foreign investment is needed for development of Iran's economy.

Foreign investment has been on the agenda in recent years despite the US sanctions and pressures.

A review of reports by the Planning and Budget Organization shows that foreign investment has increased by about 3.9 times between 2013 and 2018.

Accordingly, while foreign investment amounted to $1.3 billion in 2013, this number increased to $5.1 billion in 2018.

Director General of Foreign Investment of the Organization for Investment and Economic and Technical Assistance of Iran also stated recently that attraction of foreign investments approved in the country in the first four months of this current Iranian year, compared to previous year's corresponding period increased by 55 percent despite all economic pressures.

Iran's First Vice President Eshaq Jahangiri noted that employment, supply of currency exchanges, export development and the reduction of unnecessary imports are the most important needs of the country today.

Jahangiri on Monday addressed a meeting of special economic zones attended by the heads of the country's special economic zones and highlighted employment, currency exchange, export development and unnecessary imports as the most important needs of the country today and stated that Free and Special Economic Zones managers as the front-line soldiers of the economic war must focus their attention on these policies.

Referring to a report on the performance of special economic zones of the country in recent years, the first vice president stated that the volume of exports from special economic zones was over $20 billion in 2017, which is a very high figure indicative of the potential of these regions.

Jahangiri emphasized that special economic zones should be seriously supported, noting that some issues and challenges should not allow the activity of these regions, which play an important role in the development of the country's non-oil exports.

Special economic zones are the focal points of production and export for the country

The First Vice President appreciated the efforts by the heads of special economic zones as well as the secretariat of the Supreme Council of Free Trade-Industrial and Special Economic Zones and emphasized the importance of special economic zones in the country's economy and exports.

Jahangiri emphasized that the country's managers should be particularly sensitive to remove barriers to production and resolve producers' issues, pay taxes, pay attention to the environmental issues, and determine how to fund and pay for their tolls.

According to the report, the volume of exports in special economic zones was over $20 billion in 2017, and the average employment in the 25 special economic zones was 7,837, compared to industrial cities, the average employment in 808 industrial cities is 1,023 people.

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