Economy, Business And Markets

Foreign Investment Priorities in Post Sanctions

Foreign Investment Priorities in Post Sanctions Foreign Investment Priorities in Post Sanctions

A financing framework has been developed by the Ministry of Economic Affairs and Finance prioritizing fields for foreign investment.  

Mohammad Khazaei, director of the Organization for Investment and Technological Assistance of Iran, said foreign investment will be welcome only if it "helps the country expand its international markets", the Economy Ministry's website reported.

Based on the new framework, foreign firms interested in the Iranian market   should augment domestic production and at the same time increase employment.

Energy, heavy and light industries are among top preferences for foreign cooperation, the official noted. For instance, "Germany offers advanced heavy and light machinery and we are eager to use their technology.

There is interest among Europeans to invest in the banking and financial as well as technological sectors. Serious talks related to cooperation in the banking and finance sectors were held with the Germans, Austrians and Italians," he added.

European delegations have been visiting Iran in increasing numbers in recent weeks, including visits by high-ranking German, British, French, Italian and Spanish business and industrial leaders to discuss opportunities as the country opens to normal trade with the outsides world.   

Khazaei noted that the recent visits by senior European officials and business leaders were primarily for resetting relations. "Talks are mostly aimed at preparing the grounds for the anticipated collaboration.

So far no agreements have been signed," he said, referring to the fact that all foreign firms are waiting for the lifting of the nuclear-related sanctions before committing themselves and signing contracts with the Iranian government and private sector.

Khazaee added that the Austrians are more keen on the energy and new energies sectors.

 After a nuclear deal was signed by Iran and six world powers in July, high-powered European delegations have had a strong presence in Tehran's diplomatic circuit discussing prospects for their return and presence in the post-sanctions era.