European investors to explore opportunities in Iran stock market
Baku, Azerbaijan, June 8
By Fatih Karimov - Trend: The Swiss company ACL Management has paved the way for a 10-member European delegation to travel to Iran and explore opportunities to invest in the country's stock market, said Reza Soltanzadeh, the managing director of Iran Stock Market Brokerage Company.
The delegation will be comprised of investors from Britain, Switzerland, France, and Russia, Iran's IRIB quoted Soltanzadeh as saying on June 8.
The three-day trip aims to make the investors acquainted with top Iranian industries, he added.
Soltanzadeh said that problems, such as red tape, receiving codes, registering orders, and preparing power of attorneys, will be removed by the next two months for foreign investment.
"Meanwhile, the problem of Swift code is being removed. In this line, we are negotiating with the Heritage Bank in order to transfer money to and from Iran after lifting of the sanctions."
The European delegation will pay visits to a number of large Iranian companies, such as Persian Gulf Holding, Iran Khodro, Darou Pakhsh, Pars Minoo, Mellat Bank, and Chadormalou.
The Islamic Republic and the P5+1 group of countries - the US, the UK, France, Germany, Russia and China - reached an interim agreement on Iran's nuclear program in the Swiss city of Geneva last November, which led to relative loosening of sanctions against Iran, paving the way for further cooperation in various economic fields between Iran and other countries.
Much of the preparatory work by European corporates has been spurred by governments keen to help their industries return to a once-prosperous market.
Last year, France was one of the first countries to send a delegation to Tehran, bringing together more than 100 companies in the biggest demonstration of western business interest in Iran for more than a decade.
Since then, countries such as Italy, Germany, Austria and Portugal have all sent their own delegations, with Poland becoming the latest.
Edited by CN