Iran to provide foreign investors with incentives

Business Materials 4 May 2014 17:53 (UTC +04:00)

Baku, Azerbaijan, May 4
By Fatih Karimov - Trend: Iran will provide foreign investors with incentives, including tax exemption.

Head of the Trade Promotion Organization of Iran Valiollah Afkhami Rad said foreign investors who invest in Iran and export their products to other countries will be granted tax exemption, Iran's IRIB reported on May 4.

Iranian laws are appropriate for absorbing foreign investors, he added.
Afkhami Rad further said that if foreign investors register their companies in Iran, they will enjoy equal terms with Iranian companies.
He said that free trade zones and special economic zones would provide foreign investors with special facilities. For instance, they will not need visas and will be exempted from paying taxes for 20 years.

On March 31, Afkhami Rad said that the implementation of the Geneva nuclear deal has provided very good opportunity for the presence of international investors in Iran, Fars news agency reported.

In February, Iranian industry minister Mohammad Reza Nematzadeh said the country is planning to facilitate conditions for foreign investors in its industrial sector.

The Iranian minister further commented on the new business opportunities in Iran following the easing of sanctions against the country in light of the implementation of Tehran's nuclear deal with the P5 + 1 group.

Iran and the permanent members of the United Nations Security Council - Russia, China, the U.S., France, Britain - plus Germany inked the nuclear accord in the Swiss city of Geneva on November 24, 2013. The two sides started implementing the agreement on Jan. 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.

Following the Geneva deal, several trade delegations from different countries have announced their readiness to establish and boost ties with Iran.