UNCTAD: Foreign direct investment in Iran increases by 50%
Tehran, The United Nations Conference on Trade and Development (UNCTAD) announced that foreign direct investment (FDI) in Iran increased by 50 percent in 2017 as compared with the previous year by reaching $5.19.
UNCTAD in a report published recently titled 'World Investment 2018' said that the reason for increasing foreign direct investment in Iran was cancellation of nuclear sanctions, adding that following cancellation of imposed sanctions in the year 2015, foreign investment attraction in Iran in the fields of discovery and production of oil and gas were increased.
UNCTAD pointed to joint venture projects between French Total, Chinese 'CNPC' and the National Iranian Oil Company (NIOC) to develop Phase 11 of South Pars, joint venture projects for seven billion dollars between Turkish 'Unit International', Russian 'Zarubezhneft' and Iranian Holding Investment Company 'Al-Ghadir' to develop three oil and gas fields in Iran as well as investment of Turkish Unit International Company to construct seven power plants in Iran.
UNCTAD added that decision of US President Donald Trump to exit from Joint Comprehensive Plan of Action (JCPOA) has endangered the outlook of the agreements.
Source: Islamic Republic News Agency - IRNA