Iran News ...


5/1/04

Rise in foreign investments in Iran

Tehran, May 1, IRNA -- Deputy Economy and Finance Minister for Foreign Investment Affairs Mohammad Khazaei said here Saturday that foreign investments have increased in Iran over the past two years.

"Despite a decrease in the volume of the world`s foreign investments, it shows a 400 percent rise in Iran over the past two years which is equal to the whole investments made over the past decade," Khazaei said at the opening ceremony of the 6th Iran Petrochemical Forum.

"Although the volume of investment has decreased in the world due to the September 11 events and the cases of scandal involving some leading firms, investment activities in some regions including East Europe, North Africa and the Middle East are still promising since investments continue to grow in mining and petrochemical sector," he added.

The official noted that high income average, low production cost, active presence of graduates and enormous raw material are among major reasons behind the increase in investment in petrochemical sector.

He called on foreign and domestic companies to seize the opportunity and invest in Iran`s petrochemical sector and introduce the country`s potentials in this sector more actively.

Khazaei further noted that Iran`s GDP growth climbed from 2.2 percent in 1996 to 7.4 percent in 2003.

Pointing to Iran`s special position in the region, he said, "Iran is located at the center of the Middle East which links Asia to Europe.

"Taxation issues, customs, transportation, rich natural resources including oil, gas, metallic and non-metallic minerals and their easy access have turned Iran into the largest market in the region."

The Sixth Iran Petrochemical Forum opened here Saturday in the presence of domestic and foreign experts from 46 countries and is to wind up its work on Sunday.

Detente policy helps increase investment in Iran

Tehran, May 1, IRNA -- Deputy Foreign Minister for Economic Affairs Mohammad Hossein Adeli said here Saturday that continuation and strengthening of detente policy in Iran would help give a boost to foreign investments in Iran.

Adeli was talking to reporters on the sidelines of the Sixth Iran Petrochemical Forum which opened here Saturday in the presence of domestic and foreign experts from 46 countries.

"Iran has followed the policy of detente, establishing relations with regional countries and long-term cooperation with other countries as well as joining various regional groupings which s an indication of a new diplomacy aimed at preparing suitable grounds for investment inside the country," he said.

Asked about Iran`s cooperation with Iraq, he added the two sides are currently drawing appropriate frameworks for mutual cooperation in various fields including trade, transportation, energy, industry and agriculture while the two countries have signed memoranda of understanding in certain fields.

Adeli said ongoing developments in Iraq and Afghanistan would not have positive impacts on regional investment, adding this situation has the least negative impact on Iran due to the country`s stability.

"Iran`s economic reform is very effective in attracting foreign investment," he reiterated. "Current financial resources in the region would meet Iran`s requirements for investment."

Pointing to the export of Iranian natural gas to India, the official said Iran-India joint meeting on gas will be held in Tehran within the next two months and expressed hope the two sides would reach fruitful results in this regard.

The Iranian Foreign Ministry and National Iranian Oil Company have made a few proposals to India and Pakistan to establish further security for gas pipelines.

... Payvand News - 5/1/04 ... --



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