TEHRAN – The second Technology Investment Meeting (TIM 2020) of the Organization for Economic Cooperation (D-8) kicked off in Tehran on Tuesday with the aim of promoting joint investment of domestic and foreign companies in order to reduce effects of the U.S. sanctions.

This year, 20 foreign investment companies and 100 domestic investment companies attended the event, Milad Sadrankhanloo, deputy secretary of the event stated, IRNA reported.

Referring to the presence of 120 domestic and foreign investors at the meeting, he said that the first edition of the event was hosted by Iran in 2017, with over 20 Venture Capital Funds and 200 investors in attendance. 

SadrKhanloo added that creating mutual funds between member states that are not limited to one specific geographic area and are globally widespread could reduce sanctions. 

The event also creates a context for the use of smartphones for exchanges between countries, he highlighted.

He concluded that investors from nine countries, namely, Nigeria, Lebanon, Switzerland, Zimbabwe, Germany, Turkey, the Netherlands, and India participated in the two-day event.

D-8 includes major Muslim developing countries namely, Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan, and Turkey.

Focusing on international investment opportunities, the meeting aims at addressing the investment potentials in Islamic developing countries in order to open up an opportunity for foreign and domestic investors.

One of the main aspects of international investment is the creation of financial and technical infrastructure for knowledge and technology companies.

FB/MG