Share of the three previous governments in LC opening

The rate of attracting foreign funds for capital projects in the Eleventh Government (2013-2017) was 11 billion and 800 million dollars, managed for 36 projects. The full allocation of the facilities will gradually be undertaken during the period of projects implementation.
According to the Central Bank of Iran, the criteria for the provision of these statistics in all three governments (ninth, tenth and eleventh) are the same. Hence, it is equal to the amount of opened LC for governmental and non-governmental projects. The opened LC in Ahmadinejad’s first government was $3.4 billion for 89 projects. In the Tenth Government (Ahmadinejad’s second term), it was $3.9 billion for 29 projects. In the Eleventh Government (the first presidential term of Rouhani), it was $11.8 billion for 36 projects.

 Opened LC in past three governments


Share of JCPOA; $14bn
“From August 2013 to September 2017, the value of the direct investment plan approved by the Ministry of Economic Affairs and Finance was 19 billion and 377 million dollars, 14 billion dollars of which was after JCPOA,” said Es’hagh Jahangiri, the First Vice President.
According to him, over 11 billion and 660 million dollars of the figure have been attracted and turned into factories and industries in the country.
Stating that the government’s priority is to attract foreign investment in the petrochemical sector, he emphasized: “The downstream industries should be expanded rapidly with the support of the Ministry of Petroleum and the Ministry of Industry, Mines, and Trade.”
He points out that according to the Iran Central Bank’s report, the economic growth of the country after a long period reached to above 12 percent (from March 20, 2016). According to the Statistical Center of Iran, this growth was above 9 percent.

Growth of first three months of the Iranian year; 6.5%
The First Vice President noted that in the first three months of the current Iranian year (started on March), the economic growth was 6.5 percent and reached 7 percent (excluding oil). For the first time, mining and building sectors have become positive after an extended period of negative growth. Also, the negative trend of the gross domestic product became positive in the fourth quarter of the last year and reached 6.2 percent. It was 7.1 percent in the first quarter of this year. He also announced that 703,000 jobs were created in the first quarter of the year.
Commenting on investment attraction in the energy sector, he noted: “Energy efficiency in the transportation and building sectors are among our priorities. Several plans have been developed in this regard as each of these sectors attracts billions of dollars.”
“We have had talks with European and Asian banks. We have already signed a contract worth 26 billion dollars with foreign banks, and the government has issued guarantees,” he added.
Jahangiri pointed out that Iran is determined to boost cooperation with global companies. However, the country is ready to respond to the conditions created by the U.S. government.