Italian Investors Keen To Invest In Iranˈs Water, Electricity Projects

Tehran, June 24, IRNA – Italian investors are interested to invest in Iranˈs water and electricity projects, Abolfazl Koudeie, Head of the Organization for Investment, Economic and Technical Assistance of Iran said on Tuesday. He told reporters after a meeting with a group of visiting Italian investors. Italian investors expressed interest in Iranˈs water and electricity projects especially those in Khuzestan province, Koudeie noted. The official noted that Tehran will do its best to facilitate presence of foreign investors. Foreign direct investment in Iran (FDI) has been hindered by international sanctions, although in the early 2000s the Iranian government liberalized investment regulations. Foreign investors have concentrated their activity in a few sectors of Iranˈs economy including the oil and gas industries, vehicle manufacture, copper mining, petrochemicals, foods, and pharmaceuticals. The value of foreign investment in Iran last Iranian calendar year (ended March 20, 2014) reached 16 billion dollars which showed more than 100 percent of growth as compared with the year before, which was 7.5 billion dollars. Ease of anti-Iranian sanctions as a result of the Joint Plan of Action signed between Iran and the six world powers (the US, Russia, China, France, Britain and Germany) in Geneva in November 2013 has increased the foreign investorsˈ desire to invest in Iran./end