Azerbaijan, Baku, May 12/ Trend F.Milad/
The Iranian parliament (Majlis) approved a bill today, allowing the central bank to deposit up to $5 billion in foreign banks to receive financial facilities for non-governmental entities.
Majlis also approved opening at least $10 billion in credit lines to finance domestic plans, the IRNA News Agency reported.
Foreign investment plans in Iran amounted to $5.3 billion in the past calendar year, which ended on March 19, showing 27 percent growth compared to the previous year, deputy economy minister Behrouz Alishiri said on April 2.
IRNA news agency quoted Alishiri as saying that up to $3 billion as foreign investment was carried out last year.
Some $1.1 trillion is required to be invested during the fifth five-year economic development plan (2010-2015) to materialize the 8-percent growth rate, Alishiri said on February 26.
The domestic sources have the potential to meet around 56 percent of the required sum and the rest should be ensured through foreign investments, he noted.
Iran needs up to $300 billion in foreign direct investment (FDI) to meet objectives of its fifth five-year development plan (2010-2015), and reach 8 percent economic growth rate, Alishiri said.