TEHRAN - Ministry of Industry, Mining and Trade has approved 52 foreign investment projects valued at about $131.5 million in the first four months of the current Iranian calendar year (March 21- July 22), IRNA reported.

According to the latest data released by the ministry, Of the total number of investment projects in the current year’s four-month period, 84 percent was the share of the industry sector, 10 percent was the share of the mining sector, while trade-related projects accounted for six percent of the total figure.

Out of the 52 cases of foreign investment in the mentioned sectors, 15 cases had 100 percent foreign investment, 29 cases were joint ventures and eight cases were in the form of civil partnership, mutual sale, or build-operate-transfer (BOT).

The highest volume of foreign investment approved in the industry, mining, and trade sectors in the period under review was in the categories of basic metals, manufacturing of transportation equipment, and chemical products.

Turkey, India, Afghanistan, China, and Germany were the top five countries with the highest volume of investment, while, Khorasan Razavi, Hormozgan, Tehran, Alborz, and Qazvin were the top five provinces in terms of the volume of approved foreign investment.

Afghanistan, the UAE, Turkey, Germany, and Iraq were also the top five investors in terms of the number of approved projects during the said time span.

Back in April, the Iranian government approved a new resolution to facilitate foreign investment in the country.

According to the Investment and Economic and Technical Assistance Organization of Iran (OIETAI), the main purpose of this resolution was to encourage investors from other countries, especially from neighboring countries, to invest in Iran.

EF/MA