FDI in Iran’s Northeastern Province Rising


FDI in Iran’s Northeastern Province Rising

Foreign Direct Investment in the Northeastern Iranian province of Khorassan Razavi has surpassed the planned level, a local official announced on Saturday.

Head of industry, trade and mine organization of the Northeastern province of Khorasan Razavi Mohammadreza Mesforoush announced today that since the start of the local calendar year on March 21, 2019, some $113 million of foreign investments has been attracted in 8 industrial projects in the province.

He added that China, Germany, the Netherlands, and Turkmenistan are the main foreign investors in the industrial projects in Razavi Khorasan in the said period.

Last Monday, Omid Jahankhah, the supervisor of Northeastern province of Khorasan Razavi’s customs office, announced some $12.2 million worth of commodities have been exported from Iran's Northwestern border crossing of Sarakhs in the first quarter of the current local calendar year (March 21-June 21), which indicates a 280% growth in comparison with the corresponding period in the last year.

He added that the export of commodities from Sarakhs customs office have grown 334% in term of weight during the three-month period.

Cement, glass, plastic products, tomato paste, biscuit, marble stone and cosmetics were the main Iranian items which were exported to Uzbekistan, Turkmenistan and Kyrgyzstan through Sarakhs customs office, he said.

Iranian officials started planning for policies to counter the US possible sanctions a year before Donald Trump entered into office in early 2017. The policies are now proving effective as economic indexes are indicating inefficacy of the US pressures.

Last Updated (Sunday, 11 August 2019 11:43)