Economy, Business And Markets

Equity Market Eyes Foreign Investment

Equity Market Eyes Foreign Investment
Equity Market Eyes Foreign Investment

The Organization for Investment, Economic and Technical Assistance of Iran is expecting up to $30 billion in foreign investment in Iran’s equity market during the sixth five-year economic development plan (2016-21), said deputy economy minister and the head of OIETAI, Mohammad Khazaei.

Khazaei noted that the organization is implementing five new plans to facilitate the inflow of foreign funds in the post-sanctions era, Boursepress reported.

“Legal and regulatory reforms, removal of  barriers for foreign investments, review of executive procedures, formation of specialized taskforces and collaboration with respective organizations to improve the business environment are among OIETAI’s core policies,” he said.

Referring to foreign business delegations regularly visiting Tehran over the past few months to gauge potential sectors for investment, Khazaei predicted an increase in economic interactions with major international players following the implementation of the nuclear agreement between Iran and the major world powers.  

Iran and six world powers, namely the US, Russia, China, the UK, France and Germany, signed a Joint Comprehensive Plan of Action on July 14 in Vienna, as part of which economic sanctions against Iran are to be lifted in exchange for curbs on the country’s nuclear energy program.

Ever since, high-ranking trade delegations from Germany, France, Italy, the UK, Switzerland, Spain, Austria, Japan and the Czech Republic have visited Iran to explore post-sanctions opportunities.

“Over the past one year, OIETAI has been working extensively to pave the way for absorbing foreign investments and guiding them towards infrastructure development projects and other high-priority sectors in the country,” he said.

“To this end, OIETAI is planning to set up a meeting between investment managers of all three government branches, executive, legislative and judicial, to reach a consensus on the strategy for absorbing foreign financial resources and utilizing them based on the country’s needs.”

Commenting on legal guarantees for foreign investments in Iran, the official said OIETAI is prepared to issue the required legal permits for all foreign investors if and when they submit the required documents.

Khazaie said the Seventh International Exhibition and Summit for Introducing Iran’s Investment Opportunities will be held on Kish Island on November 9-12 to encourage foreign investors to participate in Iran’s economic projects.