Sixth Development Plan grants license for annual attraction of $60B in FI

The Minister of Economic Affairs and Finance of Iran says an annual attraction of $60 billion in foreign investment has been authorized in the Sixth Development Plan.

(SHADA: TEHRAN) -- At the meeting of the Economic Committee of the Parliament attended by the Minister of Industry, Mines and Trade, the Head of the Central Bank, the Chairs of the Chamber of Commerce and the Chamber of Guilds, Farhad Dejpasand said that 'The Year of Production Boom' was one of the best possible slogans for this year, adding: "In the face of the brutal sanctions imposed by the enemy, we have to go through a lot of restrictions on domestic affairs by adopting appropriate measures and policies."

One of the requirements for the production boom is the improvement of the utilization factor of available capacities, he said, adding: The supply of resources can be done in the internal and external spheres, using these capacities.

Referring to the fact that the capital market experienced a good year and a leap in the indexes, he continued: The capital market also had a good start in 1398 (March 2019-20), but its contribution to the economy is not as much as it should be; therefore a special plan should be created to develop and expand the capital market.

Dejpasand further stated that under the Sixth Development Plan the government is allowed to use up to $60 billion of foreign investment each year, and said: The Ministry of Economic Affairs and Finance has tried to use diplomacy to attract foreign investment, but cannot reach $60 billion.