- CNTV English - CCTV News

Homepage > News > Biz >

Iran allocates 5.4 billion dollars for foreign investors

12-08-2011 09:30 BJT

TEHRAN, Dec. 7 (Xinhua) -- Iran's Minister of Economic Affairs and Finance Shamseddin Hosseini said Iran has allocated 5.4 billion U.S. dollars for foreign investors to participate in different sectors of the country's economy, the local Mehr news agency reported on Wednesday.

Hosseini told Mehr that, out of 27 billion dollars of Iran's national development fund, the government has allocated 5.4 billion dollars for foreign investors to participate in the country's economic projects.

He also said the government has removed the barriers and provided the opportunities for investment in non-governmental investors as well.

Some other incentives have also been considered to attract foreign investments, he added.

In November, Iran held a conference in Tehran aimed at introducing investment opportunities in the country's energy, economic and industrial sectors.

In the conference, Iran's Oil Minister Rostam Qasemi outlined Iran's need for investment in its energy sector and said that 21 oil and gas fields in the country are ready for foreign investments.

Qasemi said that Iran should invest 50 billion dollars in the oil and gas industry annually to maintain its status of the second largest oil exporter in the Organization of Petroleum Exporting Countries (OPEC).

Also, Hosseini said that "foreign investors in Iran are (like) our countrymen... and we pave red carpet for them."

Iran's national development fund has over 27 billion dollars of credit available for the investors, which means they can enjoy 20 percent of the fund and its facilities for their investment projects in the country, he added.

Western countries have adopted new sanctions against Iran's energy, petrochemical and banking sectors after a resolution by the International Atomic Energy Agency (IAEA) concerning Tehran's controversial nuclear program.

In June last year, the UN Security Council adopted a resolution imposing a fourth round of sanctions against Iran. Shortly after, the United States, the European Union, Japan, South Korea, Canada and several other countries also slashed sanctions on the Islamic republic. Large amounts of foreign investments left the country afterward.

Iran says that the sanctions have no serious impact on its economy and the country has managed to circumvent them.

Editor:Zhang Hao |Source: Xinhua

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program