Foreign delegations’ visits to Iran rise eightfold
Tehran, Iran, Nov. 5
By Milad Fashtami - Trend:
The number of visits by foreign delegations has increased by 8 times in the past year.
The Director of Foreign Investment Department of Organization for Investment Economic and Technical Assistance of Iran (OIETAI) Abolfazl Koudei said that once the international sanctions are lifted, the foreign investors will start investing in Iranian projects, Iran's IRNA News Agency reported on Nov. 5.
He went on to note that Iran has facilitated the process of foreign investors' participation in the country's projects.
Iran's Deputy Economy Minister Mohammad Khazaei said on August 31 that the number of foreign investment delegations has increased from 65 to 300 over the past year, Iran's Mehr news agency reported.
"Some of the delegations represented more than 100 companies," he added.
"However, a majority of the delegations didn't conclude any contracts with the country," he noted.
Head of Trade Promotion Organization of Iran Valiollah Afkhami-Rad said on August 31 that Tehran needs to absorb foreign investment to boost its production and exports potentials.
"Foreigners' investment in Iran will transfer new technologies to the country," he added.
The Trade Promotion Organization of Iran intends to hold exhibitions in foreign countries to encourage foreign companies and businessmen to invest in Iranian projects.
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.
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.