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European Firms Top Investors in Iran

Service : Economy
TEHRAN, June 6 (ICANA) – The Organization for Investment, Economic and Technical Assistance of Iran (OIETAI) has announced that the lion's share of investment in the country comes from European companies.
Monday, June 06, 2011 8:32:03 PM
European Firms Top Investors in Iran

Head of the OIETAI Behrouz Alishiri told IRNA on Monday that European firms which top the list of investors in Iran account for over fifty percent of the funds injected into the country followed by Asian companies which account for more than forty percent of the finances invested in Iran.

He said the oil and gas, industry, and mines and agriculture sectors rank one to third respectively when it comes to absorbing foreign investment.

Alishiri underlined that the bulk of foreign funds are funneled into the oil, gas and petrochemical sectors as they are the backbone of the economy.

He said some USD 1 trillion in finances is required to achieve the eight-percent economic growth projected in the Fifth National Development Plan.

“Investment through oil revenues is predicted to reach USD 200 billion over the next five years under optimum conditions, around USD 800 short of the required figure,” he said.

According to the OIETAI head, another USD 400 billion in funds is projected to be absorbed through other local sources, still leaving the total sum USD 400 short of the USD 1 trillion required to achieve the eight-percent economic growth.

The Iranian top investment official pointed out that the shortfall in funding should be covered by foreign finances.

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