TEHRAN (ISNA)- Iran has passed laws on tax exemption for five years for foreigners making investment in Iran, said Deputy Head of Iranian Trade Development Organization Sadeq Ziyaie-Bigdeli.

�helpful laws have been passed in Iran with the aim of removing obstacles for competitive production in Iran, based on which foreign investors would be exempted from tax for five years,� he said in a meeting with Chinese delegations.

He said that in case foreign companies use potential of Iran�s internal production units to make high-quality goods and at least export 20 percent of the products, they would be exempted from tax.

The Iranian trade official continued the investors then have to pay 50 percent of tax after 5 years.

He said that Iran is the largest market for retail goods in the Middle East, and given its access to 300 million population market of neighboring states, it is in a good position for trade and investment.

Ziyaie-Bigdeli said investors can use Iran as their export hub.

By ISNA