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Tehran Stock Exchange absorbs $190m in foreign investment

TEHRAN, July 14 (Mehr News Agency) - Notification of recent investment law has reduced the skepticism between the nation's stock market and economy and the flow of $190m foreign capital into bourse is one of the positive aftermaths of this law, Mohammad Khazaii said in Tehran on Friday.

Referring to lack of adequate administrative mechanisms in the country's legal investment code for implementation of Article 44, the deputy minister of finance and economic affairs commented that necessary steps need to be taken towards attraction of both domestic and foreign capital in order to implement some aspects of a comprehensive privatization.

The flow and flight of capital would be left unchecked if the law is not enforced in consistent and clear manner, he stipulated, adding that stock exchange should somehow break the 'current shell' and establish connection with other markets.

... Payvand News - 7/15/06 ... --

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