Iran ranks 6th in attracting foreign investments

TEHRAN, Jan. 2 (MNA) -– An official at the Organization for Investment, Economic and Technical Assistance of Iran said that the country ranked sixth globally in 2010 in attracting foreign investments.

"The United Nations Conference on Trade and Development (UNCTAD) reported that despite the global economic meltdown foreign investment in Iran had increased by 86 percent," Vaqef Behrouzi said today.

He added that tax and customs exemptions along with financial facilities were among the incentives provided for foreign investors to do business in Iran.

In December 2010, Iran announced a 95-percent leap in foreign investments, attributing the rise to overall security and many investment opportunities, Economy Minister Seyyed Shamseddin Hosseini said.

“Iran's economic appeal and its overall security creates a suitable opportunity for a rise in investments,” he added.

The minister pointed out that foreign investment in the Islamic Republic has topped three billion dollars and is expected to grow.

The higher inflow of cash comes in the face of Western efforts, spearheaded by the United States, to restrict Iran's economy.