Economy, Domestic Economy

Iranian Investors Prioritized

Professor of Economics
Iranian Investors Prioritized
Iranian Investors Prioritized

Foreign dignitaries use the United Nations General Assembly’s annual meetings as an opportunity to meet expatriates with roots in their respective countries. Iran’s President Hassan Rouhani is no exception.

The president and his companions took advantage of their time in New York City to meet with Iranians and Iranian expatriates in different forums. The most significant event was the reception held in Midtown Hilton Hotel for the members of the expat community last Saturday.

The event was well attended by a diverse group of Iranian expatriates and the Iranian community in the United States, including families, businessmen, academicians and students.

President Rouhani’s speech was well balanced with comments on current issues, nuclear negotiations and future plans.

Rouhani gave credit where credit was due, thanking Iranian negotiators for their efforts. Here the audience joined him and applauded Iranian negotiators who were also in attendance. Then he addressed the audience directly, inviting them to invest in Iran’s economy.

“Iranian entrepreneurs, executives and investors at home or abroad are given priority over others when it comes to investment in different economic sectors of the country,” he said.

As sanctions are lifted, Europeans are in the best position to harvest the economic benefits of the Joint Comprehensive Plan of Action, by getting a head start over their American competitors. This is while within the JCPOA, all American businesses can invest and operate in Iran via their subsidiaries.

“American companies will not be hampered in establishing a presence in Iran, as investment and technology transfer opportunities are there to be tapped in the competitive atmosphere of the post-sanctions era by all major international firms,” said President Rouhani in a meeting with the executives of American companies in New York on Friday evening.

 The president revealed that many contracts have been finalized with European businesses, who rushed to Tehran to take advantage of the JCPOA. Currently, French and German companies have planned numerous projects in tourism, hospitality and energy, while conducting negotiations regarding aircraft sales and new vehicle assembly lines.

Rouhani noted that Iran’s economy is gearing up to attract foreign investment. His administration has set a goal of attracting $200 billion in the energy sector and $70 billion in the petrochemical industry in the coming years.

Overall, Iran needs up to $150 billion in foreign investment to create an economic growth large enough to reduce unemployment.

President Rouhani invited all Iranian investors to participate in this process.