Iran approves +$260M in foreign investment: Iraqi firms involved
Shafaq News – Tehran
Iran’s Foreign Investment Board on Tuesday approved 53 new projects worth $262 million, with investors from 13 countries, including Iraq, contributing to the portfolio.
The approved projects, Mehr News reported, cover production, renewable energy, solar power plants, automotive manufacturing, mining, protected agriculture, pharmaceuticals and healthcare, housing, logistics, and industrial services.
Investment requests came from the United Kingdom, Portugal, China, Thailand, Spain, Cyprus, UAE, Turkiye, Afghanistan, Pakistan, Iraq, Oman, and Iranian expatriates. According to the Iranian Investment Organization, 310 projects have been approved since March 20, with a total value exceeding $11.4 billion.
Notably, Iran has faced US and international sanctions since the 1979 revolution. These sanctions, targeting the energy sector, financial institutions, and key officials, have sought to constrain Iran’s nuclear program, missile development, regional interventions, and alleged support for terrorism. US sanctions include blocking assets, restricting trade with US entities, and imposing secondary sanctions on third-party actors engaging with Iran.
Read more: Baghdad strains to navigate renewed Iran sanctions
To counter these pressures, Iran has promoted a “resistance economy” aimed at boosting domestic production while maintaining foreign investment channels, including from regional partners such as Iraq, China, and Turkiye.
