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Foreign Investors Flock to Iran
(Wall Street Journal) Asa Fitch and Benoit Faucon - Dozens of development projects and deals with European and Asian companies have been hammered out since Iran's nuclear accord with world powers in 2015 lifted a range of sanctions. Government-approved foreign direct investment in Iran shot up to more than $11 billion last year, official figures show, from $1.26 billion in 2015. Yet foreign companies still face daunting obstacles to doing business in Iran, which placed 131st out of 176 countries for corruption in a ranking by Transparency International last year. Moreover, large international banks remain reluctant to re-establish links with Iran, making money transfers into and out of Iran a challenge.