TEHRAN – According to United Nations Conference on Trade and Development (UNCTAD)’s latest report titled “world investment report 2018”, foreign direct investment (FDI) inflows into Iran increased by nearly 50 percent in 2017 compared to the previous year.

“Inflows to the Islamic Republic of Iran increased by nearly 50 percent to $5 billion”, the report read.

Following the lifting of West-imposed sanctions in late 2015, the country’s rich reserves started to attract significant foreign participation in the exploration and production of oil and gas.

Based on the document, investments by major foreign companies including France’s Total, China’s CNPC, Turkey’s Unit International and Russia’s Zarubezhneft into the country’s energy sector has been the main driving force for the increase in Iran’s FDI figure.

However, the United States’ decision to withdraw from the Iran nuclear deal has led to uncertain prospects for these investment projects.

Earlier in April, Afrouz Bahrami, director general of Foreign Investment Office of the Iranian Ministry of Industry, Mining and Trade, said that industry, mining and trade sectors attracted $3.5 billion of FDI in the past Iranian calendar year (ended on March 20), which indicates 75-percent growth from the figure of its preceding year.

EF/MA