Official: No request yet by foreign investors to leave Iran

Official: No request yet by foreign investors to leave Iran
Iran’s Deputy Minister for Economy says the Islamic Republic attracted $5bn foreign investments over the past Persian calendar year.

Mohammad Khazaei said based on the reports received by the Central Bank, Customs Office, Oil Ministry and other related organizations, Iran attracted about $5bn foreign investments over the past Persian year (Ended March 20, 2018)  which shows a 45% growth compared with the previous year.

Touching on the impacts of the US withdrawal from the Iran nuclear deal on foreign investments in Iran, he said so far there has been no request by any foreign investor to pull out their investments from Iran.

“Meanwhile, we have not yet received any report on calls for cancelling any finance contracts signed with foreign investors,” he was quoted as saying in a report by Persian-language Fars News Agency.

Khazaei went on to say that given the complicated financial relations between the US and the EU, it seems that the latter needs to assign several European banks with making financial exchanges to guarantee the financial security of European investors in Iran.
“Though European firms and banks in Europe and other part of the world are totally independent from their governments, the political will of the European governments can play a key role in paving the way for the European investors to launch various projects in Iran,” he said.

During a speech on May 8, US President Donald Trump announced that Washington was withdrawing from the Iran deal and would revive the economic sanctions against the country, including those targeting its oil sector and transactions with the Central Bank of Iran (CBI).

In turn, Tehran said it will stay in the agreement for now and will enter fresh negotiations with the remaining parties to see if they can preserve the deal and ensure the Islamic Republic’s economic interests enshrined in the accord without the US.

Iran has said the European sides must give assurances that its economic interests would still be met under the deal, which removed the economic sanctions against Tehran in early 2016 in exchange for Tehran to limit certain aspects of its nuclear program.

Date: 11 Jun 2018