FDI at 50% growth in 10 months: finance min.

Minister of Economic Affairs and Finance (MEAF) Farhad Dejpasand said that Foreign Direct Investment (FDI) in the country registered a 50 percent growth in the 10 months of the current Iranian calendar year (from March 21 to Jan. 22) as compared to the last year’s corresponding period.

Speaking in a press briefing on Tue., he said, “considerable 50 percent growth in attraction of foreign investment has been realized despite efforts made to cut foreign investment in the country.”

He pointed to the historical evolution of efforts made to cut dependency on oil after the glorious victory of the Islamic Revolution in 1979 and said, “Leader of the Islamic Revolution issued the order of compiling oil-free economy in 1996.”

Many efforts have been made to cut oil revenues and define alternative solutions, the most important of which is tax revenues, he highlighted.

Presently, tax revenues constitute the considerable portion of government’s spending, the finance minister stressed.

Turning to the efforts made by enemies of the country to cut export of non-oil commodities, he said, “non-oil exports has increased 20 percent in terms of weight in 10 months of the current year (from March 21 to Jan. 22).

In the same period, non-oil exports have decreased three percent in terms of value, the Minister of Economic Affairs and Finance (MEAF) Dejpasand concluded.