"The Fifth Economic Plan intends to have an 8% growth in order to reach the goals stipulated by the 20-Year-Outlook Plan, but to achieve such a growth rate we need international finances", said Behrouz Ali Shiri, the Vice Minister of Economics and Finances on the sidelines of the meeting of the Heads of Economics and Finances Organizations of Iran held at the Ministry.
The Public Relations Department of the Organization for Investment, Economic & Technical Assistance of Iran (OIETAI)cited Mr. Alishiri as saying: "attraction of foreign finances through direct foreign investments is the most complicated behavior in the economic arena in Iran.
Referring to desirable economic environment, return of capital and the existence of investor-friendly laws as the suitable grounds for foreign investment, he said: "once such grounds are provided, we may attract foreign investors into our country".
The President of OIETAI added: "offering diverse privileges and incentives and establishing models for the provision of finances are two of the major factors in attracting foreign investors to Iran".
Alishiri went on to say: "those interested in making investments in the country are faced with numerous administrative and bureaucratic hurdles which have slowed the trend of foreign investments in Iran. This is while, according to note 2 of paragraph 7 of the Article 44 of the Iranian Constitution, a reply should be made in writing within 10 days, to the request made by potential investors by the respective authorities. In case the request is accepted, the respective authority is obligated to inform the requesting investor of the required documents and, if needed, of the legal fees in writing and after receiving all the documents, has to engage in issuing permits, licenses or signing contracts ".
The Vice Minister reiterated that "all the qualifications, documents and information needed are included in the "Investments in Iran" guidebook which has been published and put at the disposal of the private sector enterprises. The electronic version of this guidebook is also found on the website of the Investment Organization of Iran and everybody can easily access it".
Head of the Investment Organization of Iran added: "if the respective authorities do not discharge their duty in this regard or if the request is turned down and the requesting investor is not convinced of the reasons, he/she may raise an objection with the provincial Headquarters for Investment that is presided over by the Governor General of every province or with the National Headquarters for Investment headed by the Minister of Economics and Finances.
Alsihiri expressed hope that with the cooperation of the institutions specializing in businesses in Iran, we will be witnessing the promotion of investments made by domestic and foreign private sectors.