Demand for foreign investment in Iran on rise

  
 

 

  
 

 

  
     
           Tehran, Nov 20, IRNA -- Head of Organization for Investment and Technical Assistance Mohammad Khazaie said here on Wednesday that since the approval of the law on attraction of foreign investment in Iran, a emarkable boost has been observed over the first half of current Iranian year (started March 21).
         Khazaie told IRNA, "Over dlrs 300 million worth of foreign investment has been approved by the Foreign Investment Organization within the framework of 17 projects over the past six months, mainly consisting of textile, vehicle spare parts, building materials, oil well equipment, floor mats, etc."
         Referring to the boost in the number of projects involving foreign investment which during the recent months equalled to those approved over the past 10 years, he said that in average about 15 applicants seek advice at the foreign investment consulting center every day.
         According to the official, the applications currently under assessment concern investment in power station, production of foodstuff, vehicle spare parts and petrochemical plant from Germany, France, Turkey, India, Spain, Saudi Arabia, Canada, etc.
         Concerning the prospective projects of the investment organization, he said, "Development of overseas investment in parallel with attraction of foreign investment in Iran are among the significant measures included on the organization's agenda."
         "Some steps have been taken towards informing the private sector of joint investment with foreign countries, direct overseas investment and using international financial and technical facilities," he added.
He pointed to economic reforms such as transparency of laws, reduction of tax rates on foreign investment and unification of hard currency rate as the preliminary measures aiming at encouraging foreign investors and the ratification of the related law was the last phase of its legal framework.
         Concerning the investment risk rate in Iran, he said that it has been down from six to four percent in the past two years, which is among the main achievements contributing to increased attraction of foreign investment.
         "If the rate drops down to three percent, the charges for using international monetary funds and markets will reduce remarkably," he added.
         He hoped that the proposed reduction of investment risk rate from four to three percent, which is currently examined by the Organization of Economic Cooperation and Development (OECD) member states, will be materialized.
         According to him, over the past 10 years, investment on more than 123 projects has already been approved.
         He added that the volume of the investments, except that of oil and gas sectors, has so far amounted to dlrs 4.5 billion, out of which dlrs 2.7 billion has already been invested.
         Stressing the significance of the development of foreign investment in the economic growth, he hoped that the promotion of investment in Iran and attraction of foreign investments will lead to increased production and reduced unemployment.

 

  
 

  

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