Iran's President Pezeshkian seeks $100 billion foreign investment, targets 8% economic growth

Iran's President Masoud Pezeshkian announced that the country requires around $100 billion in foreign investment to achieve an annual economic growth target of 8%, which is double the current rate of 4%, reported AP.
Pezeshkian, elected in July, made these remarks during his first live televised interview with state TV. He indicated that Iran would need up to $250 billion overall for its economic goals, with more than half already available from domestic resources.
Focus on economic growth to tackle inflation and unemployment
Pezeshkian focused on the importance of this growth rate in reducing Iran's double-digit inflation and unemployment rates.
In Iran, hundreds of entities and individuals are under international sanctions for allegedly supporting Iran's Revolutionary Guard and foreign militant groups such as Hamas, Hezbollah, and the Houthis.
Pezeshkian expressed frustration over these sanctions and stated his administration's intention to tackle inflation, which is currently over 40% annually.
"If we solve our problems with neighbours and the world," Pezeshkian said, referring to Iran's high inflation.
Pezeshkian’s diplomatic engagements and focus on investment
Pezeshkian confirmed that his first international trip will be to neighbouring Iraq, followed by a visit to New York for the United Nations General Assembly meeting on 22-23 September.
He intends to hold meetings with Iranian immigrants while he is in New York, specifically those residing in the United States, to promote investment in Iran. Globally, there are over 8 million Iranian immigrants, with around 1.5 million of them living in the US.
Pezeshkian is known to be a reformist leader who took office last month with a parliamentary-approved cabinet, promising a softer tone in Iran's domestic and foreign policies.
Ebrahim Raisi, the previous leader of Iran, was a protege of the country's supreme leader and took Iran towards increased uranium enrichment. He passed away in a helicopter accident in May along with seven others.
Since 2018, Iran's economy has been facing difficulties following the withdrawal of the United States from the nuclear agreement and the imposition of further sanctions on Tehran by former US President Donald Trump. Pezeshkian, during his campaign for president, promised to focus on restoring the nuclear deal.