Iran Needs $100 Billion in Foreign Investment

Iranian President Masoud Pezeshkian announced that the country needs approximately $100 billion in foreign investment to boost its annual economic growth rate from 4% to 8%. In his first live televised interview since his election in July, Pezeshkian stated that Iran needs up to $250 billion overall for its economic goals, with more than half available from domestic resources. He emphasized that achieving this growth rate could reduce the nation's double-digit inflation, currently at over 40%, and unemployment rates. Pezeshkian expressed concerns about international sanctions affecting various Iranian entities and individuals, and proposed improving relations with neighbors and the world to address these issues. His first international trip will be to Iraq, followed by attending the United Nations General Assembly in New York, where he plans to meet Iranian expatriates to encourage investment. Pezeshkian, known as a reformist, aims for a softer domestic and foreign policy approach compared to his predecessor, Ebrahim Raisi, who died in a helicopter crash in May.