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Foreign Investment in Iran Increased to $4.3 Billion, Mehr Says

May 21 (Bloomberg) -- Iran attracted $4.3 billion in foreign investment in the past Iranian year ended March 19, Mehr reported today, citing Economy Minister Shamseddin Hosseini.

The government reported $3.7 billion of foreign investment in the previous 12 months. Hosseini didn’t give details of where the investment came from.

Iran is under United Nations, U.S. and European Union sanctions over its nuclear program, which western powers say may be aimed at developing atomic weapons, a claim Iran denies. The International Monetary Fund is forecasting 0.4 percent economic growth this year and 1.3 percent for 2013.

To contact the reporter on this story: Ladane Nasseri in Dubai at

To contact the editor responsible for this story: Andrew J. Barden at

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