Foreign Investment in Iran One-Seventh of Turkey
IRAN NEWS ECONOMIC DESK
TEHRAN – Chairman of the Iranian and Foreign Joint Venture Investments Association says Iran could have attracted foreign investments between 40 to 50 billion dollars annually but due to the sanctions, lack of communication, lack of trade trust, adding that the condition for foreign investment is not favorable.
Speaking to ILNA, Seyed Hossein Salimi talked about the Iran-Europe Business Forum which was supposed to be held on Monday but was postponed, and said in such forums and gatherings the latest information about the condition for investment is presented for those who are eager to invest in Iran. He added that such meetings and presentation of information can allure companies and investments and this forum could have good output for the country which was unfortunately postponed due to some reasons. He said those economic activists who are willing to work with Europe and European counterparts are the main losers of such postponements.
On the current condition of attracting foreign investment and significance of such forums, he said this forum could have positive impact on foreign investment, adding that if the foreign investments in other countries are around 40 to 50 billion dollars or in Turkey it is around $20b, it is around $3b annually in Iran which is an insignificant figure.
Salimi noted that Iran is among the top countries in the world in gas and electricity sectors and the country has many skillful workforces ready to work. He added the country could have attracted annual foreign investment of 40 to 50 billion dollars but sanctions, lack of communication and above of all lack of trade trust have made the condition unfavorable for foreign investment.
He also called for resolving domestic problems regarding investment because instability in laws and regulations make the investors to snub investment, and for this reason economic stability and stability in regulations is necessary for investment.
Salimi reiterated when a foreign investor even in India learns that laws and regulations in Iran do not last more than one year, he is reluctant to investment.