Growth in world trade, especially in the field of foreign investment, in the mid-70s, coupled with the increase in oil income, led the Iranian government to make investments in different countries and economic fields, in order to diversify the country's sources of revenue.

After the Islamic Revolution and beginning of the reconstruction years, following the revision of former economic policies, a new organization called Iran Foreign Investment Company (IFIC) was founded through which activities related to foreign investment could be concentrated and managed. As a result, the majority of the government's foreign investments were transferred to this company. IFIC officially started its operation in March 1998.