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Iran changing foreign investment regulations

Business Materials 20 June 2017 15:50 (UTC +04:00)

Tehran, Iran, June 20

By Mehdi Sepahvand – Trend:

Iran is going to change its foreign investment regulations as it has witnessed lack of interest from foreign investors in the post-sanctions era, said Behruz Alishahi, member of the post-JCPOA committee of Tehran Chamber of Commerce.

The current law is a great hurdle against attracting investment, he told Mehr news agency June 20.

Alishahi is acting as head of the committee, which has been investigating the trend of foreign investment attraction in Iran after the country was rid of sanctions in 2016 following the implementation of the JCPOA (Joint Comprehensive Plan of Action (JCPOA)).

The existing law poses problems in four major spheres against foreign investment, he said.

One of the problems is that foreign investment is contingent upon certificates, he said, adding the filtering system in the country is another problem.

The current Foreign Investment Organization is way behind similar formations in successful countries, he added.

Alishahi added that Iran’s immovable property ownership system is also crammed with unclear, variably interpretable points, and damages foreign investment.

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