European banks, after Asian rivals, have signed contracts to expand banking and financial relations with Iran. Likewise, they are keen to finance public and private sector projects in the country. Earlier, it was Exim Bank of Korea which allocated €8bn to Iranian projects and played a leading role in the post-JCPOA investments. In the west, Austrian Oberbank was the first European lender signing one billion euro deal with 14 Iranian banks after the reached agreement between Iran and 5+1.

The inflow of foreign capital to Iran has grown steadily from 2014 to 2016. According to the new report released by UNCTAD, although the amount of attracted capital is lower than that of 2011 and 2012 (previous government), it has been on the ascending path for the past three years.
In 2016, capital inflows increased by 64% compared to the preceding year and reached over $3.37bn. However, between 2013 and 2015, the inflow of the foreign capital was $3.05bn, $2.10bn, and $2.05bn, respectively.

 

Ahmad Jamali, the General Director of Foreign Investments of the Organization for Investment, Economic, and Technical Assistance of Iran, believes that organizational and legal institutions, highly prioritized in Iran, are the key factors in foreign capital attraction. These two factors ensure the presence of investors in any country. In an interview with Mine & Business Today, he refers to the 2017 report by UNCTAD according to which Iran has the highest degree of innovation in capital attraction, finding a special place in Southern and Western Asia.
He announced the provision of new services for investors which facilitate the inflow and attraction of foreign capital.

 

The total value of foreign investment in various economic sectors approved by the Foreign Investment Board of Iran reached $5bn.
According to a report released by the Foreign Investment Board of Iran, in 10 months of the Iranian calendar year (ended January 20, 2017), the value of the 58 projects attracting the investment of foreign companies has reached $4.977bn. More than $1.8bn of the investments is allocated to the mining and industry sector. The figure is equal to 37% of the total approved investments.

 

The Minister of Economic Affairs and Finance, Ali Tayebnia, put the value of MoUs signed in the field of investment at $50bn after JCPOA.
The official said that a great number of reached agreements with foreign investors are currently at the final stages.
Tayebnia underlined that restrictions on encouraging foreign investment in the form of finance are lifted.
«The issues with two European and an Asian state are addressed and efforts are undertaken to overcome obstacles in the path of cooperation with other country,» he noted.

Minister of Industry, Mine and Trade, Mohammad Reza Nematzadeh, revealed that over $8.5bn investment has been made in mines and industry sector since 2013-14, when the 11th government took office.
Addressing Iran’s Ambassador to Turkey, Mohammad Ebrahim Taherianfard and the staff of the economic section of Embassy of Iran in Ankara, the Minister noted that the investment was made in 170 projects while 80 projects have been successfully commissioned.
According to him, following Joint Comprehensive Plan of Action (JCPOA), more than $5.5bn foreign investment was attracted in mine and mining industries in last year.
The official pointed out that Turkey, European countries, CIS states, and Arab countries are among investors in the Iranian industry sector.
Nematzadeh paid a visit to Ankara at the head of a delegation to hold talks on expansion of Iran-Turkey economic and commercial relations.