Iran to facilitate regulations for foreign investment: minister

07:43, July 23, 2010      

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Iran's Economy Minister Seyed Shamseddin Hoseini said Thursday the country is going to facilitate regulations for foreign investments in Iran.

Addressing the conference of the annual World Investment Report (WIR) by the United Nations Conference on Trade and Development, Hoseini called Iranian government's regulations for attracting foreign investments persuasive and facilitating.

"According to that (regulations), the small-scale (foreign) investors can easily take their capital out of the country and the large-scale investors, which possess 10 percent of the agency's value or 10 percent of the management position, can take their capital out of the country after two years upon receiving permission (from the government)," Hoseini said without further elaboration.

He also praised Iranian provincial officials' performance in attracting foreign investments and said that "the local governors should enhance their negotiations with the foreign countries and they (the local governors) should be given (much) authorities (in their negotiations with foreign investors)."

Iran's Deputy Minister of Economy, Behrooz Alishiri, said Tuesday that "there is security for the foreign investments in the country and Iran can offer the opportunities (of investments) for the foreigners," according to the official IRNA news agency.

"The potentials for the investment in Iran is very unique which have performed as the backfire for the sanctions against the country," Alishiri was quoted as saying.

The UN Conference on Trade and Development was established in 1964 as a permanent intergovernmental body. It is the principal organ of the UN General Assembly dealing with trade, investment, and development issues.

The organization's goals are to "maximize the trade, investment and development opportunities of developing countries and assist them in their efforts to integrate into the world economy on an equitable basis."

Source: Xinhua


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