Iran wants expatriates to invest money in domestic projects

Business Materials 16 September 2014 16:06 (UTC +04:00)

Baku, Azerbaijan, Sept.16

By Fatih Karimov - Trend:

Iranian expatriates allegedly have around $800-1,000 billion and should be encouraged to invest this money into domestic projects, said Iranian deputy foreign affairs minister Hassan Qashqavi, Iran's IRNA news agency reported on September 16.

All executive bodies are obliged to pave the way for investors to participate in production, economic, and job creation projects, he said.

He added that about major part of Foreign ministry's efforts go towards discovering and attracting the expatriates' investments.

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

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.