The board reviewed a total of 38 applications submitted by investors from countries including Russia, Canada, Spain, Dominica, the UAE, Iraq, Oman, Bahrain, Afghanistan, Pakistan, China, as well as Iranian expatriates. Of these, 35 projects — valued at $126mn — were approved to receive foreign investment licences.

According to a report by SHADA, the official news outlet of Iran’s Ministry of Economic Affairs and Finance, the 304th session of the board — and the first of the new solar year — was chaired by Mr Heydari, president of the Organisation for Investment, Economic and Technical Assistance of Iran (OIETAI).

The approved projects span multiple sectors, including renewable energy (notably solar power plants), food industries, pharmaceuticals and healthcare, maritime transport, textiles, housing, petroleum derivatives, and other industrial fields.