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First electronics stock exchange launched in Iran

TEHRAN, May 19 (Mehr News Agency) -- The first investment electronic stock exchange was launched by the Trade Promotion Organization of Iran (TPOI).

"One of the main prerequisites for achieving economic stability is to attract foreign investors," said Mehdi Ghazanfari, head of the TPOI on Friday, noting that developing trade relations requires the presence of Iranian merchants in the foreign companies and also the investment of the foreigners in the domestic projects.

He went on to say that the development of trade relations with the foreign countries will ease marketing and pave the way for both the Iranian and foreign investors to attend foreign markets.

Ghazanfari said that the establishment of the first electronic stock exchange in Iran will create an information dissemination atmosphere for those who are interested in the investment affairs.

He further stated that finding foreign investors and creating investment opportunities were not the duty of one or two governmental organizations, but noted that a great number of public and private organizations in the country should endeavor to trace foreign investors and investing opportunities.

"If properly utilized, investment can become the drive engine of economy, however, if it is merely accompanied by the governmental budget and domestic markets, it will eventually lead to the creation of some factories whose productions are not at all competitive," he added.

Referring to the difference between the investment electronic stock exchange and the bourse, Ghazanfari said that the electronic stock exchange is an information dissemination system for offering services to the foreign investors. This introduces Iranian projects that might be interesting to foreign investors.

... Payvand News - 5/20/06 ... --

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