Capital flight from Iran reaches $100 Billion in ten years
In the past ten years $100 billion capital has left Iran while foreign investment has dwindled to negligible amounts, Faryal Mostofi, director of Tehran Chamber of Commerce Investment Services said.
Mostofi emphasized the importance of attracting foreign investments and argued that it could be a key factor for Iran to turn around its economy and experience a higher rate of growth.
She said the key to success is to be part of the global economy and use the same methods that South Korea, Indonesia or Turkey used to achieve economic success.
According to reports, foreign investment in Iran in 2020 was around $1.35 billion.
Mohammad-Reza Pour-Ebrahimi, chairman of parliament’s economic committee, claimed in 2018 that $30 billion had left the country in less than two years as the prospect of new US sanctions loomed. The $30 billion would have equalled nearly 30 percent of the government’s annual budget.
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