Foreigners invest in Iran’s stock market for first time

Baku, Azerbaijan, Nov. 30

By Umid Niayesh - Trend:

Central Securities Depository of Iran announced that for the first time in Iran's capital market history 72 foreign investors have invested the country's stock market during the first eight months of current Iranian fiscal year (started on March 21).

The investors from Britain, Russia, Germany, Switzerland, India, Turkey, Lebanon, South Africa, the UAE, Norway, Greece, Indonesia, Maldives, Hong Kong, Iraq, Pakistan and Afghanistan have entered Iran's capital market during the 8-month period (March 21- Nov. 22), the company's official website announced Nov. 30.

Earlier Reza Soltanzadeh, managing director of Iran Industrial Investment Company said that Iran has received requests from investment funds in Russia, Britain, France, Germany, Greece, Norway, and Australia as well as Arab countries for entry into the Islamic republic's stock market.

Soltanzadeh said Russian investors have voiced their readiness to inject 200 million euros into Iran's stock market while investors from Britain, France and Germany have applied for investments above 150 million euros.

Australia and Norway have each applied for more than 100 million euros, Greece for 50 million euros and Arab countries for sums varying between 30 and 50 million euros.

Last week, an Iranian official said the country plans to attract more domestic and foreign investors.

"Foreign investment would help us meet financial needs, transfer technology, increase tax revenue, boost exports and production and be able to create more jobs," head of Iran's Organization for Investment and Economic and Technical Assistance Mohammad Khazayee said.

Khazayee added that supporting domestic investors is also important as they implement infrastructural and fundamental projects which are the significant advantages of a country to attract more international investment.

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