Iran approves foreign investment worth $540m
Foreign investments in Iran rose by 45 percent in the past Iranian calendar year, which ended on March 20, compared to its preceding year
Create alert for IRNAIRNA,
Create alert for Mehr News AgencyMehr News Agency,
Create alert for United NationsUnited Nations,
Create alert for Organization for Investment, Economic and Technical Assistance of IranOrganization for Investment, Economic and Technical Assistance of Iran
Iran has approved $540 million worth of new foreign investment plans, the Chairman of the Organization for Investment, Economic and Technical Assistance of Iran stated.
IRNA quoted Bahrouz Alishiri as saying that the plans are related to the industry, mining, and transportation sectors.
On July 6, Alishiri said Iran offers one hundred percent tax exemption for an unlimited period of time to foreign investment in the agriculture sector.
Tax exemption up to 80 percent are being offered to investments in the industry and mine sector, he said, adding that the figure will be one hundred percent for a period of ten years in underdeveloped areas.
Tax exemptions in free trade zones will be extended for 20 years, he added.
On June 20, Alishiri said that foreign investments in Iran rose by 45 percent in the past Iranian calendar year, which ended on March 20, compared to its preceding year.
The amount of foreign investment in Iran reached its peak in the past [Iranian calendar] year 1391, the Mehr News Agency quoted Alishiri as saying.
The investment figure has been reported to UNCTAD (the United Nations Conference on Trade and Development), he said, adding, “If UNCTAD approves the figure, we will announce it.”
Iran has initiated three plans to attract more foreign investment in the current year, Alishiri said.
The plans, which will be launched by the next two months, include restructuring the organization for foreign investments, implementing a unified window platform for investments, and offering incentives to investors, he added.
- Jumping on the IMF's bandwagon: Kuwait quietly embarks on subsidy-slashing journey
- Even the numbers are on the feminist side: companies with females in top management yield higher returns
- Kingdom in debt, Kingdom in danger: Saudi Arabia's pending deficit raises frightening possibilities
- 'Dead aid': is there any hope left for South Sudan's economy?
- Why the ME's high net worth individuals should be investing in family businesses
- Iran plans to open $2 billion in petrochemical contracts to foreign investors
- And another, even bigger win: Iran, China to draw "economic roadmap" for future cooperation
- Iran to privatise 100 copper and lead mines
- Iran’s investment policy criticized by Japanese delegation
- Iran passes new bill to attract foreign investment