Iran: No limit on foreign investment

Iran’s Economy and Finance Minister says based on Iran’s fifth development plan, there is no limit on foreign investment in Iranian industrial or mineral sectors.

”The Iranian government will be trying to remove any obstacle in the financial domain by the end of the fifth development plan (2010-2015) to attract foreign investments,” said Shamsoddin Hosseini during a Sunday meeting with South African Parliament speaker, Max Sisulu, in Tehran.

He added that according to the plan, financial limitations will be removed for the banking, insurance and capital market.

Hosseini said that industrial and petrochemical factories as well as refinery projects are to be privatized during Iran’s fifth development plan, adding that foreign investors should make use of the opportunity.