<p dir="LTR"><span>Financial Tribune – Iran attracted $24.95 billion in foreign investments from Sept. 23, 2013, to Sept. 22, 2017, the director general of the Ministry of Industries, Mining and Trade’s Foreign Investment Office said.</span></p> <p dir="LTR"><span>Afrouz Bahrami added that the figure accounts for less than 2% of all the FDI made worldwide during the period, Hamshahri Online reported.</span></p> <p dir="LTR"><span>According to the report, Germany, China, Turkey, Austria, the UAE and France were the biggest investors in Iran during the period under review.</span></p> <p dir="LTR"><span>The most attractive industries for foreign investors in Iran were polymer and chemicals, steel, trade, motor vehicles, mining, plastic and medical devices.</span></p> <p dir="LTR"><span>Alborz, Tehran, Khorasan Razavi, Fars, West Azarbaijan, Kerman, Zanjan and Qazvin were the most attractive Iranian provinces for foreign investments during the period.</span></p> <p dir="LTR"><span>As per the Sixth Five-Year Development Plan (2017-22), the government needs to attract at least $50 billion annually in foreign investment (direct, finance or joint investment) plus 5,800 trillion rials ($145 billion) in domestic investment to achieve an 8% economic growth.</span></p> <p dir="LTR"><span>This is while the country managed to absorb only $3.37 billion in FDI in 2016, accounting for 0.19% of total global investment ($1,780 billion).</span></p>