Iran secured $5.5 billion in foreign direct investment (FDI) during the past calendar year, marking a record for the country, according to Ali Fekri, chairman of Iran’s Organization for Investment & Economic and Technical Assistance (OIETA).
The $5.5 billion represents the highest annual FDI figure in the 16-year history of OIETA. Fekri noted that additional FDI projects were authorized but excluded from the tally due to investors failing to bring funds into the country.
China led foreign investments in Iran with $2 billion, followed by significant contributions from Turkey, the United Arab Emirates, and Iranians living abroad. Fekri dismissed speculation that new FDI inflows were primarily from Afghanistan, clarifying that Afghan investments in Iran totaled just $35 million.
The bulk of the FDI went to Iran’s manufacturing, mining, and metals sectors, with the oil and gas industry attracting the largest share over the past three years under the outgoing administration. Total FDI authorized by OIETA during this period reached $11 billion.
