Tenfold growth in foreign investment for Fars

Tenfold growth in foreign investment for Fars
ID : N-1175 Date : 2018/01/30 - 14:57

(Persia Digest) – Foreign investors have been taking an interest in Fars Province and businesses from Italy will soon open plants here for the production of pasta, ready to cook meals, coffee, etc… The Chinese will also open a chromite concentrate plant here.

With this introduction, the “Khabar Jonub” newspaper wrote: “Although currency fluctuations and the movement of foreign capital remains a serious challenge on the path of foreign investment in Iran, official statistics still show a tenfold growth in Fars Province.”

The General Director of Economic Affairs for Fars Province stated: “Ten projects were ratified last year for foreign companies amounting to USD 95MM in worth, creating 411 jobs in Fars Province. The figure for this year has reached nine projects in the past ten months with a worth of USD 910MM and 2127 jobs.”

According to Babak Daei, out of the ten projects last year, seven pertained to solar and wind-powered plants of 339 MW capacity being implemented by investors from China, France, Turkey, Italy, the UK, and the Czech Republic.

He added: “Three other investment projects for the construction of 50-unit residential buildings by Afghan companies in Shiraz, exploration and mining of marble by Kuwaiti companies in Nayriz, and perfume making by Indian companies in Shiraz are also on the agenda.”

About the investment projects ratified for this year, Daei said: “There are nine projects for this year which will be invested in by the UAE, China, Italy (2 projects), Germany, South Africa (2 projects), and Turkey (2 projects).”

He reiterated: “Apart from these, investment projects worth USD 100MM are being negotiated for signing contracts, bringing the total investment ratified for the Province to over USD 1BN, reaching

USD 1BN and 10MM for the first time.”

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