Iran petchem sector potent to absorb foreign investments

TEHRAN, May 18 (Shana) — Head of IMIDRO says Iran has vast potentialities in attracting foreign investments in its transportation, food, medicine, petrochemical and mining industries.

Head of Iranian Mines & Mining Industries Development & Renovation (IMIDRO) Mehdi Karbasian told the Iran-Italy Commercial Conference in Tehran on Tuesday that Iran enjoys vast potentialities in different economic sectors for foreign partners.

“Access to abundant energy resources, raw materials, mines, low labor costs, 400-million-strong regional markets and skilled human forces provide for unparalleled opportunities in Iran for foreign investors,” he said.

The conference was held in the presence of Italian ambassador to Tehran as well as representatives of major industrial companies from Italy in the fields of banking, insurance, investment, transportation, etc.

He said unlike other regional countries, Iran’s economy does not rely on oil exports.

Karbasian said foreign investors can form up joint ventures with Iranian partners in Iran to tap the country’s vast potentialities in various economic sectors.