Having met with delegation comprised of investors from Bulgaria, Sheragim Shams the Deputy Director General for Foreign Investments of OIETAI told us about the enthusiasm and preparedness of Bulgarian companies to make investments in various projects in Iran.
According to the Public Relations Department of the Organization for Investment, Economic & Technical Assistance of Iran (OIETAI), Shams described the Foreign Investment Promotion and Protection Act (FIPA): “OIETAI as the only official body in Iran that is specializing in encouraging foreign investment, supports all foreign investors”.
He went on to name the advantages of the Iranian law for encouraging and supporting foreign investors including equal treatment of foreign and domestic investors, transfer of capital, profits, no limitation in share-holding as well as the possibility of 100% foreign investments and added: “the trading and investment relationship between the two countries must be promoted and the chambers of commerce of both sides are influential in enhancement of such relationships”
Referring to the strong resolve of the governments of both countries to promote the economic ties, Shams stated that the ground is prepared for the presence of Bulgaria’s private sector in Iran and that by establishing a strong bond between the investors of both sides, economic cooperation will be promoted from the trading level to that of direct foreign investment.
Replying to a question posed by our reporter regarding the authorized areas for investment in Iran, Mr. Shams said: “considering the capabilities of Iran’s economy and the high rate of capital return, foreign investments are feasible in all the fields that private sector is allowed to enter”. He added that “Iran has a population of 70 million and makes it possible to have access to the markets of Middle Eastern, Central Asian, and Caucasus countries and enjoys high capacities and privileges for investments to be made in textile, steel industries, foodstuff, agriculture and mining.
Shams went on to say: “by becoming present in the Iranian competitive and lucrative market, foreign investors can meet the domestic demands and also export a large volume of their products to other countries.
Referring to Article 44 of the Iranian Constitution, he noted: “under this article, good opportunities have been created for the participation of domestic and foreign investors and we hope that the existing potentialities will be utilized the appropriate way”.
The head of Bulgarian delegation welcomed the idea of making investments in Iran and said: “the economic and investment capacities in Iran need to be introduced and elaborated on to Bulgarian investors in a seminar”.