Tehran: Iran's Foreign Investment Board has given the green light to more than $5 billion in foreign investments during its 286th meeting and the fourth session under the current administration, as reported by a statement from the Ministry of Economy on Wednesday. This significant approval marks a record in both the number of projects reviewed in a single meeting and the total volume of investments sanctioned. According to Islamic Republic News Agency, the board evaluated 83 proposals, which included new foreign investment requests, capital expansions, and licensing modifications. Out of these, 77 proposals from foreign investors were granted approval. The sanctioned investments encompass 50 new projects across various sectors such as oil and gas, renewable energy, automotive, pharmaceuticals, food production, construction, tourism, electronics, transport and logistics, steel industries, services, and agriculture. Investors hail from a range of countries, including the UAE, China, Australia, India, Sweden, Switzerland, Oman, Turkiye, Pakistan, Iraq, Afghanistan, and members of the Iranian diaspora. Collectively, the approved projects are valued at $5.08 billion. The board's monthly meetings, held within the Organization for Investment Economic and Technical Assistance of Iran, aim to streamline and expedite the process for granting foreign investment licenses.