Tehran to host intl. seminar on foreign investment in Iran

TEHRAN (MEHR - Trend )

An international conference on foreign investment opportunities in Iran will kick off in Tehran tomorrow with the participation of over 120 companies from across the globe.

Thailand, Belgium, Japan, Denmark, Russia, Austria, South Korea, Turkey, Czech Republic, India, Saudi Arabia, the United Arab Emirates, and the U.S. will be attending the event, said the director of the Organization for Investment, Economic and Technical Assistance of Iran (OIETAI).

Behrooz Alishiri added the event is aimed at introducing opportunities and advantages of investment in Iran and explaining related regulations and policies, the Mehr News Agency reported.

"Iranian ministers of finance and economic affairs, foreign affairs, and petroleum, as well as the president of the Central Bank of Iran, and representative of the Islamic Development Bank will also attend the opening ceremony of the seminar," Alishiri added.

"The seminar will focus on petrochemical, automotive, construction, tourism, steel, intermediary products, energy, telecommunications, food, agriculture, aquaculture, and pharmaceutical industries, "he stated.

The officials will discuss the legal criterions and policies of foreign investment in Iran, privatization, foreign trade, Iran's bourse, and investment and exports insurance.

On the growth of foreign investment, he pointed out that for the Iranian calendar years 1380 to 1383 (March 2001-March 2004), foreign investment in Iran amounted to $875 million. This figure grew by 300 percent for the period from 1384 to 1387 (March 2005-March 2008) to $2.6 billion, he added.

Alishiri, who is also the deputy economy minister, earlier announced plans to establish a special committee for foreign economic relations, in accordance with the directive issued by President Mahmoud Ahmedinejad.

The official pointed out that a draft bill for improving the law for the protection of foreign investment is currently being examined by the parliament. The goal is to improve coordination between the legislative and executive branches of government in order to facilitate foreign investment, he stated.

OIETAI's major responsibility is the attraction of foreign investment through finance (i.e. foreign banks or the Islamic Development Bank) or via direct foreign investment, he pointed out. So far, 300 areas in the country have been identified for potential foreign investment.

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