Tourism Packages for Foreign Investors

To attract foreign investors to the tourism sector, Iranian opportunities should be properly introduced, Iran’s Cultural Heritage, Handicrafts and Tourism Organization's deputy for investment and planning said.

Speaking in a meeting with directors of tourism associations, Saeed Ohadi added that Iran's tourism potentials are not utilized properly, which deprives the people and the country of the industry's benefits.

"Investors should be provided with a roadmap as to what area to invest in," he said, announcing that his department is working on comprehensive tourism packages for foreign investors, Mehr News Agency reported.

The official named the issue of unreal exchange rates and fluctuations in currency value among problems facing tourism investors.

"As the value of rial is artificially kept higher, tourism investment may seem to have no economic justification for launching projects. The issue should be addressed by envisioning incentives," he said.

Another problem, he said, is that permits are at times issued for those who may not be “financially capable” of completing the projects.

Therefore, he suggested that a committee investigate the financial status of the investors to make sure they will be able to fund the project until the end.

The official also referred to a meeting between ICHHTO and various banks as well as the National Development Fund of Iran, which led to a memorandum of understanding that will hopefully facilitate investment in the next fiscal year (starting March 21, 2018).

Supplying land for investors is another issue that, if addressed, would encourage businesspeople to put their money in projects. Ohadi noted that although foreign investment is the most important objective of the department, planning is another key area that has been neglected over the years.

"Planning is key to any organization, for which professional think tanks are needed to provide them with the scientific know-how and expertise held by the private sector," he said.