The number of foreign trade delegations traveling to Iran for exploring investment opportunities has increased eightfold this year compared to the previous year, Abolfazl Koudei, director of foreign trade office at the Organization for Investment, Economic and Technological Assistance of Iran announced at a news conference on Wednesday.
Responding to a question on the possibility of reaching a nuclear agreement in Iran's talks with the P5+1 group of major world powers and its impact on Tehran's ability to attract foreign investors, Koudei said, "The removal of western-led sanctions and the government's plan to attract foreign investors would be helped by relaxing trade policies and preparing the required infrastructure to support foreign investment; however, it does not seem possible to turn a blind eye on the restraints made by the draconian sanctions on the country's economic activities."
Foreign direct investment in Iran (FDI) has been hindered by international sanctions in recent years, though the Iranian government had liberalized investment regulations in early 2000s.
Foreign investors have expressed interest in starting joint ventures in various sectors of Iranian economy, including oil and gas industries, auto industry, copper mining, petrochemicals, food industry, and pharmaceuticals.
The value of foreign investment in Iran during the last Iranian calendar year (ended March 20, 2014) reached 16 billion dollars showing more than 100 percent growth as compared with the year before, during which the number stood at 7.5 billion dollars.
