European firms pledge €300m investment in Iran stock market

June 9, 2015 - 0:0

TEHRAN – Directors of nine large companies from Britain, France, Switzerland, and Russia, pledged to make €300 million investment in the Iranian stock market as soon as the Western-led sanctions are lifted against the country.

They paid a visit to the Tehran Stock Exchange on Monday, expressing the hope that lifting of the sanctions would pave the way for their presence in the Iranian market.

During their three-day stay in Iran, they will also pay visits to a number of large Iranian internationally renowned industrial companies.

Western companies are one after the other engaged in talks with Iran to resume their delayed activities or make new investments in the Islamic Republic. 

The recent developments came as world powers and Iran reached a framework agreement in the Swiss city of Lausanne in early April. Iran and the P5+1 group of countries have reached a mutual understanding on ironing out their differences over Tehran’s nuclear program and reaching a final deal by the end of June. 

On May 9, Iran’s Vice President Es’haq Jahangiri pointed to the growing number of Western companies attempting to return to Iran following the possible removal of sanctions against the country and said Tehran would rather support foreign investment.