Official: Iran Guaranteeing Foreign Investments

TEHRAN (FNA)- Deputy Economy Minister Mohammad Khazayee underlined that Iran guarantees foreign investments in its different economic sectors.
"The issue of snapback of sanctions has been completely resolved and Iran’s economy is entering a new phase of its development; therefore providing suitable conditions for presence of foreign investments," Khazayee said on Friday, addressing a international forum on development of Iran's petrochemical sector in Vienna.
Khazayee reiterated that Iran welcomes foreign investment and cooperation through Public-Private Partnership models.
He underlined the importance of establishment of credit lines between Tehran and the European capitals to facilitate cooperation, adding that most European countries have already taken important steps towards making the credit lines with Iran.
"Iran will ink new credit line agreements with Denmark, Italy, UK, Germany, China, South Korea and Japan in the near future," Khazayee added.
He pointed to advantages of Iran’s petrochemical sector including availability of continuous and accessible feeds and easy access to domestic and international markets, and said that the grounds are now ready for foreign investment in Iran and using it as a hub for production and export of goods to the region.
In relevant remarks in mid-June, Khazayee announced that the volume of foreign investments in Iran has considerably increased.
"A recent report shows that the volume of foreign investment in Iran has increased by over 64 percent," Khazayee said.
He also said that the approvals for investment and issuing guarantees have also increased by over 100 percent.
In a relevant development earlier in June, the United Nations Conference on Trade and Development (UNCTAD) in a recent report announced that Iran has attracted over $3.3 billion of foreign investments.
"Iran attracted $3.37 billion in 2016," the UNCTAD said in its latest report released in June 2017.
The UNCTAD said that the foreign investment in Iran witnesses a 64 percent growth as compared with the previous year.
UNCTAD is a permanent intergovernmental body established by the United Nations General Assembly in 1964. Its headquarters are located in Geneva, Switzerland, and it has offices in New York and Addis Ababa.
UNCTAD is part of the UN Secretariat. It reports to the UN General Assembly and the Economic and Social Council but has its own membership, leadership, and budget. It is also part of the United Nations Development Group.
The Division on Investment and Enterprise of UNCTAD serves as the focal point for all matters related to foreign direct investment and multinational enterprises in the United Nations System. It builds on more than four decades of experience and international expertise in research and policy analysis on investment and enterprise development, fosters intergovernmental consensus-building, and provides technical assistance to over 150 countries.