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Over 300 delegations of foreign investors visited Iran in past year

Iran Materials 31 August 2014 13:37 (UTC +04:00)

Baku, Azerbaijan, Aug.31

By Fatih Karimov - Trend:

Over 300 delegations of foreign investors have visited Iran in the past year.

Iran's deputy economy minister Mohammad Khazaei said that the number of foreign investment delegations has increased from 65 to 300 over the past year, Iran's Mehr news agency reported on August 31.

Some of the delegations represented more than 100 companies, he added.

However, a majority of the delegations has not concluded any contract with the country, he noted.

According to United Nations Conference on Trade and Development (UNCTAD), foreign direct investment (FDI) flows to the Islamic Republic of Iran exceeded $3 billion in 2013.

Iran's government is working to prepare a comprehensive incentive package for attracting foreign investments by end of the coming summer, Behrouz Alishiri, the head of Organization for Investment, Economic and Technical Assistance of Iran said in May.

He added that the package includes all sectors of economy such as free trade zones, communication networks, financial and monetary systems, social and health sectors, etc.

One of the striking developments in Iran in recent months has been the large external capital inflows, mostly in the form of foreign direct investment (FDI), thanks largely to its initial progress in macroeconomic stabilization, improved investment regime, and progress in nuclear negotiations with the five permanent members of the UN Security Council - (Russia, China, the U.S., France, Britain) plus Germany.

Iran and the P5+1 group inked a nuclear accord in the Swiss city of Geneva on November 24, 2013. The two sides started implementing the agreement on January 20.

Under the Geneva deal, the six countries undertook to provide Iran with some sanctions relief in exchange for the Islamic Republic agreeing to limit certain aspects of its nuclear activities, including a voluntary suspension of its 20-percent uranium enrichment program.

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