Italian investors willing to take part in Iranian projects

Business Materials 16 November 2014 13:43 (UTC +04:00)
Italian investors are ready to invest in Iranian projects
Italian investors willing to take part in Iranian projects

Tehran, Iran, Nov. 16

By Milad Fashtami - Trend:

Italian investors are ready to invest in Iranian projects.

Italian Ambassador to Iran Mauro Conciatori said that his country intends to have a leading role among other countries in terms of expansion of ties with Iran.

"Iran and Italy can boost their ties and this can encourage other countries as well," he said, Iran's Mizan news agency reported on Nov. 16.

"Once Iran and the P5+1 group of countries reach a comprehensive agreement, Italian investors can take part in mineral and industrial projects of Iran," Conciatori said.

He made the remarks at a meeting with the head of Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) Mehdi Karbasian.

Karbasian, for his part, said that Italy was one of the countries that bore great losses due to international sanctions imposed on Iran.

"Italian investors can invest in several projects including steel, aluminum, and iron ore projects," he said.

A delegation consisting of Italian investors visited Iran in September to study investment opportunities.

Houshang Ebrahimi, the coordinator of the Italian delegation, said that Italian firms have been active in Iran's energy, car manufacturing, renewable energy and other sectors in the past 10 years.

Iran's IRIB news agency reported on September 14 that an Italian firm has started negotiations with the officials of Iran's southern Fars province on the possibility of making investments in the province's oil and gas projects.

The Italian firm intends to indirectly invest in the projects.

Italians also intend to export their technical knowledge to the Iranian side.

Head of Trade Promotion Organization of Iran Valiollah Afkhami-Rad said on August 31 that Iran needs to absorb foreign investment to boost its production and exports potential.

Foreigners' investment in Iran will transfer new technologies to the country," he added, Iran's IRNA news agency reported.

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 by the end of the coming summer.

He added that the package covers 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 US, France, UK) plus Germany.

Foreign direct investment (FDI) flows to the Islamic Republic of Iran exceeded $3 billion in 2013, according to the United Nations Conference on Trade and Development (UNCTAD).