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                                        Volume. 12160

Iran drawing up incentive package for foreign investment
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TEHRAN - Iran’s government is working to prepare a comprehensive incentive package for attracting foreign investments by end of the coming summer, the head of Organization for Investment, Economic and Technical Assistance of Iran has said.
 
Behrouz Alishiri says the package includes all sectors of economy such as free trade zones, communication networks, financial and monetary systems, social and health sectors, etc.
 
The work on the comprehensive incentive package with the goal of facilitating condition for foreign investors began three years ago and would be finalized by end of summer, Alishiri told the IRNA news agency in an interview published on Friday.
 
According to Alishiri, the government and Majlis, if needed, would enact these new regulations, which will provide a basis to facilitate procedures and improve the regulatory environment for foreign investment.
 
One of the striking developments in Iran in recent months has been the large external capital inflows, mostly in the form of foreign direct investment (FDI), thanks largely to its initial progress in macroeconomic stabilization, improved investment regime, and progress in nuclear negotiations with the five permanent members of the UN Security Council - (Russia, China, the U.S., France, Britain) plus Germany.
 
Iran and the 5+1 group inked a nuclear accord in the Swiss city of Geneva on November 24, 2013. The two sides started implementing the agreement on January 20.
 
Under the Geneva deal, the six countries undertook to provide Iran with some sanctions relief in exchange for the Islamic Republic agreeing to limit certain aspects of its nuclear activities, including a voluntary suspension of its 20-percent uranium enrichment program.
 
World oil giants have voiced their readiness to return to Iran following the easing of sanctions against Iran following the implementation of the Geneva deal.
 

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