Iran’s deputy finance minister has criticised China for its low investment figures in the country as Iran battles ongoing US sanctions to reach a $10bn foreign direct investment (FDI) goal, state-run media reported on January 28.
Ali Fekri, who leads the Organization for Investment & Economic and Technical Assistance of Iran, said, “China has invested nearly $185m in Iran over [the 15 months to the end of 2022], which we are not happy with, given the amount of negotiations and meetings.”
Mr Fekri made the comments as he drew comparisons to Russia, which he called the country’s biggest foreign investor; Russian capital accounted for 45% of Iran’s investment figures in the period and funnelled $2.7bn to two petroleum projects, he added.
But only $5.95bn of the country’s $10.2bn FDI goal — which was set for the end of 2022 — has entered the country so far, Mr Fekri noted.
Lidl brings snacks to the party
German discount food retailer Lidl has announced that it will invest £4bn into its British food businesses this calendar year, accelerating its original 2019 spending plan by an additional £2bn.
In 2019, Lidl GB had committed £15bn investment to the UK food industry by 2025, but the new figure is expected to hit £17bn, the company said in a statement on January 30.
Lidl says it sources two-thirds of its core produce from the UK, with more than 650 suppliers across the country.
Nestle extends Colombia reach
Colombia’s president Gustavo Petro has unveiled a $100m commitment from giant food corporation Nestlé to build its operations in the South American country.
“Industrialising Colombia is essential if we want to get out of poverty,” Mr Petro wrote on his personal Twitter account on January 28.
The president’s government Twitter account released details of the deal, saying the following day that the deal will increase the firm’s production capacity in the country by 40% and exports by 15%.