Foreign Investment to Flood into Iran After Lifting of Sanction

January 19, 2016

The door has now opened to foreign investments in Iran, including for U.S. firms, announced the Iranian President Hassan Rouhani on the historic day of 17 January 2016 when the international sanctions against the country were unanimously lifted.

Hailing the lifting of sanctions as a ‘special and historic day’, he added: “There are no obstacles to U.S. companies’ investments in Iran”.

“In the path of securing our needs for capital and technology, the country is now ready to welcome entrepreneurs. We need to activate the private sector and involve it in investment to achieve economic growth,” Rouhani said.

The U.S. and EU lifted international sanctions on Iran following the announcement of International Atomic Energy Agency Saturday that the country was complying with its nuclear-related obligations agreed last summer.

International Atomic Energy Agency (IAEA) Director General Yukiya Amano made the announcement Saturday that Iran completed necessary preparatory steps to start implementation of the Joint Comprehensive Plan of Action (JCPOA).

The world powers’ group P5+1, which includes China, France, Russia, the United Kingdom, and the United States plus Germany, the European Union, and Iran reached a nuclear framework deal on July 14, 2015, that was called the Joint Comprehensive Plan of Action.

On Oct, 18, 2015, the agreement became effective and participants began to make preparations for the implementation of their agreements.

Rouhani noted that Iranian companies could now start trade and export activities through normal channels with more facilities.

“Moreover, our banks can receive their needed monetary and banking services from banks around the world,” he added.

“We can reach an agreement with the world that will benefit all nations and the region, as well as the world,” Rouhani said.

He said Iran’s prospect for next year’s economic growth was at 5 percent, up from 3 percent in the current fiscal year.

“Government and the private sector should join hands to attract more capital which is to the benefit of the country and creates jobs for the youth,” he said.

According to the president, Iran will now give priority status to some countries for trade and investment in acknowledgement of their support during tough times when the West had imposed economic and military sanctions on it.

Source: http://aa.com.tr/en/economy/door-now-open-to-foreign-investments-in-iran-rouhani-/506508