IRNA � Iran welcomes foreign investors and facilitates their participation in the investment projects, Minister of Economic Affairs and Finance Ali Tayyebnia said on Tuesday.

He made the remarks at the 20th International Congress of Asia-Pacific Central Securities Depository Group (ACG).

Iran's economic organizations and institutions including the country's stock market are ready for development of mutual cooperation with the world economic institutions, the economy minister added.

He noted that Iranian economic institutions welcome foreign economic plans for boost of cooperation.

The economy minister said Iran has prepared incentive packages for absorbing foreign investment in the free trade zones, including 20-year tax exemption.

Visa removal and facilitation of foreign investors' presence in the free trade zones are other parts of the incentive package, he added.

The foreign investors which have been registered in Iran can possess the land, the economy minister said while elaborating the details of new incentive packages.

ACG was set up in November 1997 with the membership of 14 depository companies.

The ACG is currently a regional platform of 33 depositories and clearing organizations from 23 countries including China, South Korea, Australia, New Zealand, Japan, India, Sri Lanka, Thailand, Uzbekistan and Iran.