Feb 2, 2021, 6:30 PM
Journalist ID: 1842
News Code: 84208881
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FTZs provide good opportunity for foreign investment

Tehran, Feb 2, IRNA – Recent political developments have brought about optimism for lifting or reduction of US sanctions on Iran, which in turn have boosted hopes of foreign investment, especially in the free trade zones which are the main destination of such investments.

One of the ways to improve economic conditions is by attracting foreign investment.

While the COVID-19 pandemic caused a 42-percent drop in foreign investment all over the world, the experience of China in attracting foreign trade in such a bad condition is quite noticeable.

Despite the fact that the epidemic started in China and the world economy is still struggling with the negative consequences of the disease, China managed to attract 4% more investment in 2020 than the previous year and was the biggest attractor of foreign investment. China attracted $163 billion dollars in 2020.

According to the official statistics of Iran's Ministry of Industry, Mining, and Trade, Iran has confirmed 129 cases of foreign investment valued at $4.3 billion.

The biggest share of the investment has been in making chemicals, radios, televisions, communication equipment, machinery, printing, and publication.

The biggest investors have been Germany, China, Turkey, and England.

The recent developments picture a bright future for investments in the Iranian free trade zone. And even the worst-case scenario takes place and the sanctions stay untouched, it is expected that the confirmed foreign investments are made.

Speaking in the online ceremony to open 61 projects throughout Iran on January 14, President Hassan Rouhani said that foreign and domestic investments in Iranian free trade zones have increased by 56 percent in the current Iranian year (starting on 20 March 2020) compared to the previous year.

President Rouhani said the figures show that the US maximum pressure and the economic terrorism of the White House have failed.

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