MP: Iranian citizens’ investments in Turkish, Georgian property sector grow
Baku, Azerbaijan, Dec. 25
By Elnur Baghishov - Trend:
Investments of Iranian citizens in the property sector of Turkey and Georgia increased, Sodeif Badri, a member of the Iranian Parliament, said in an interview with the Islamic Consultative Assembly News Agency, Trend reports.
He said that the increase in the investments occurred due to strong devaluation in Iran over the past year. Thus, citizens buy property in foreign countries to protect their money, he noted.
“Unfortunately, in this period, wrong decisions were made in the foreign currency and economic sector,” he noted. “This caused a part of the investment to leave the country. Therefore, the priority issue in this area is to strengthen the value of the currency, so that the investments would partially return to Iran.”
Over the past few years, neighboring countries have simplified their laws and regulations in the process of attracting foreign investments, he said.
“In my opinion, such investments cannot be trusted,” he noted. “A country, which makes it easier to invest, may apply laws that will prevent further outflow of investments from the country.”
A strategy should be defined in Iran so that local investments stay in the country, he said.