$8.5b in Foreign Funds Approved in Post-JCPOA Era: Iranian Minister

An Iranian minister says $8.5 billion in foreign investment have been approved by the Organization for Investment and Technical Assistance of Iran in the post-sanctions era, of which $5.5 billion pertains to the industry and mining sector.

Iranian Minister of Industry, Mine and Trade Mohammad Reza Nematzadeh said the Organization for Investment and Technical Assistance of Iran has approved $8.5 billion worth of foreign investment after the signing of the Joint Comprehensive Plan of Action (JCPOA) by Iran and P5+1 in July 2015.

He made the remarks in an address to a ceremony in Kerman Province on Friday, February 10.

Elsewhere in his remarks, Nematzadeh also underlined the need for avoiding the export of raw materials, and said the Leader of the Islamic Revolution Ayatollah Seyyed Ali Khamenei and senior Iranian officials have always stressed the importance of minimizing export of raw materials and raise overseas sales of high added-value products.

According to a Farsi report by the official website of Iran’s Ministry of Interior, he also expressed dissatisfaction with the progress of plans currently underway in the country to this end, adding, “Since the very beginning of my term in office, I have always underlined the need for raising the export of products with high added-value as one of our [long-term] objectives.”

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