Friday, 18 October, 2019

Iran’s Rouhani Sets 3 Conditions for Foreign Investors

Iran has no plans to allow foreign investors to take control of a market of 80 million people, Iranian president Hassan Rouhani said on Saturday.

Stressing that foreign investors should be prepared to share the benefits of their deals in Iran, Rouhani set some terms for those investors who are interested in entering the Iranian market.

Iranian president suggested foreign investors will be welcome only if they work with a local partner, hire local workers and transfer technology.

Rouhani’s statement comes as some have expressed concern about the excessive influence of foreign companies in Iran after sanctions are lifted.

“If foreign companies or countries think they can take control of a market of 80 million people, they are mistaken, and we must not allow it,” Rouhani said at a news conference broadcast on state television on Saturday.

Businessmen from around the world have flocked to Tehran since the July 14 nuclear deal, which could see international sanctions lifted in early 2016 and open Iran to world markets.

Iranian president addressed the foreigners: “Our policy is that you bring your investment and technology to the country and partner with Iranians, and then a part of the Iranian and regional markets will be within reach of us both and there will be employment for our youth.”

Iran has not yet revealed any specific contract terms it will impose on foreign investors. Oil Minister Bijan Zanganeh on Monday said a new model oil contract would be completed in September and introduced at a London conference in December.

Rouhani’s comments echo those of Reza Norouzzadeh, the chairman of the Industrial Development and Renovation Organization, who earlier this month said companies were “only welcome to Iran’s economy through joint investment”.

Iran attracted an average of only $1.1 billion of foreign direct investment between 1996 and 2004, before major economic sanctions were imposed on it, according to the United Nations Conference on Trade and Development.

FDI has increased since then, but it remains far less than in fast-growing emerging economies elsewhere, because of some obstacles.

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1 Comment

  1. Kamran Amirsoleymani

    September 27, 2015 at 2:57 pm

    Hreat site

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