Iran economy not to develop without foreign investments, minister says

Iran’s Industry, Mine, and Trade Minister Mohammad-Reza Nematzadeh said that his country’s economy could not develop without the cooperation of international companies.

“Once under sanction, a country cannot absorb foreign cooperation,” Nematzadeh said, Iran’s IRNA News Agency reported on June 24.
He expressed hope that the upcoming nuclear talks between Tehran and the P5+1 group of countries be fruitful so that Iran finally will be able to absorb more foreign investments.

“The Industry, Mine, and Trade Ministry has started negotiations with foreign firms over their possible investment in Iranian projects,” he added.

The Iranian minister further invited the private sector to play a more active role in Iran’s economy.

Deputy Director of Iran Small Industries & Industrial Parks Organization Qolamreza Soleimani said on June 22 that foreign investors invested some $783 million in Iran’s industrial parks in the 12-month period with ended on March 20.

“The investment has created over 11,000 job opportunities,” he said, Iran’s Mehr News Agency reported on June 22.
“Currently some 122 foreign investors are active in Iranian industrial parks projects,” he said.

He went on to note that the interim deal between Tehran and the P5+1 group of countries has encouraged foreigners to invest in Iran’s market.

By Cihan


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