Iran to inaugurate single-window system of trade on Feb. 11
Baku, Azerbaijan, Jan.26
By Fatih Karimov - Trend:
Iran will inaugurate its single-window system of trade on February 11, ISNA quoted Iranian Deputy Economy Minister Behrouz Alishiri as saying on January 26.
The system enables foreign investors to apply directly their requests for investment in provincial investment departments across the country, the minister said.
Considering the national strategy for attracting more foreign investors, provincial departments are ready to inform foreign investors of new conditions and terms for investment in the country, Alishiri added.
The single-window system is a trade facilitation idea. As such, the implementation of a single window system enables international (cross-border) traders to submit regulatory documents at a single location and/or single entity. Such documents are typically customs declarations, applications for import/export permits, and other supporting documents such as certificates of origin and trading invoices.
On October 2, 2013, Iranian Industry, Mine, and Trade Minister Mohammadreza Nematzadeh said Iran will increase the value of foreign investments in the country by $8 billion in the next four years.
"Based on international studies, each one dollar of foreign investment will bring two dollars of profit for the host country," Nematzadeh said.
"Iran needs to absorb foreign investment to carry out high-tech projects," he added.
Head of the Organisation for Investment, Economic and Technical Assistance of Iran Behrouz Alishiri said in July that the volume of foreign investment in the country has witnessed a remarkable growth.
"Iran attracted some $4.85 billion in foreign investment in the last Iranian year (ended on March 20, 2013)," Alishiri said.
The minister stressed that the figure hit $2.60 billion and $4.60 billion in 2011 and 2012, respectively.
According to the latest world investment report released by the United Nations Conference on Trade and Development (UNCTAD), Iran absorbed nearly $5 billion worth of foreign investment in 2012 which is 17 percent more than in 2011.