TEHRAN- The Ministry of Industry, Mining and Trade has approved 75 foreign investment cases valued at about $1.02 billion in the first seven months of the current Iranian calendar year (March 20-October 21).

According to the latest data released by the ministry, in the mentioned seven-month period, 102 foreign investment cases valued at $3.7 billion were approved in the country, of which 27 percent in terms of value was the share of the industry, mining, and trade sectors.

Foreign investment approved by the Industry, Mining, and Trade Ministry in the first seven months of this year increased 36 percent and 71 percent in terms of number and value, respectively, compared to the same period of time in the past year.

The highest volume of foreign investment approved in the industry, mining, and trade sectors in the period under review were in the categories of chemical materials and products, base metals, coke, refined products and nuclear fuels, rubber, and plastic products, respectively.

Germany, China, Turkey, and India were the countries with the highest volume of investment, and Afghanistan, Turkey, China, and India were those with the largest number during the mentioned time span.

Also, Sistan-Baluchestan, Khuzestan, Tehran, Isfahan, and East Azarbaijan provinces were the top five provinces in terms of the volume of approved foreign investment.

As previously reported by the Industry Ministry, Iran expects a 10-fold increase of foreign investment in the industry and mining sectors by the end of the Sixth Five-Year National Development Plan (March 2022).

MA/MA