TEHRAN - Iran has approved foreign investment projects worth $1.2 billion during the 289th meeting of the Foreign Investment Board, a senior official at the Ministry of Economic Affairs and Finance said.

According to the ministry, the meeting, held on February 19, reviewed 68 foreign investment proposals, all of which received approval.

Abolfazl Koudei, head of the Organization for Investment, Economic, and Technical Assistance of Iran, stated that the projects cover various sectors, including renewable energy, industry, pharmaceuticals, housing, tourism, international transportation, financial services, agriculture, automotive, stock markets, and the food industry.

The investments will be carried out by companies from various countries and are expected to boost Iran’s economic development despite ongoing challenges in attracting foreign capital.

Koudei added that the approved projects will be implemented across 15 provinces, aiming to strengthen regional economies and create new employment opportunities.

EF/MA