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Foreign direct investment in Iran rose by six percent in 2021: UNCTAD

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Source : presstv.co.uk

Foreign direct investment (FDI) in Iran grew by six percent last year after three consecutive years of decline following the reinstatement of sanctions by the United States, says a report by United Nations Conference on Trade and Development (UNCTAD).

According to World Investment Report 2022, FDI flows to Iran reached $1.425 billion in 2021, compared to $1.342 billion in 2020.

The figure stood at 1.508, 2.373, 5.019, and 3.372 billion dollars in 2019, 2018, 2017, and 2016, respectively.

The UNCTAD’s report also showed that global flows of foreign direct investment recovered to pre-pandemic levels in 2021, reaching nearly $1.6 trillion.

According to the report, the world’s top recipients of foreign direct investment last year were the United States, China, and Hong Kong, respectively.

The report supports policymakers by monitoring global and regional investment trends and national and international investment policy developments.

Iran has seen lower levels of direct foreign investment since former US president Donald Trump unilaterally left the 2015 Iran deal, officially known as the Joint Comprehensive Plan of Action (JCPOA), in May 2018 and re-imposed the anti-Iran sanctions that the deal had lifted.

Trump also targeted the Iranian economy with secondary sanctions, which include bans on third parties that wished to maintain their economic relations with Tehran.

However, investment has continued to flow into Iran despite difficulties facing foreign actors in transferring funds and settling payments because of the US bans.

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