Iran-CBI-Petrochemical Forum
Governor of the Central Bank of Iran (CBI) Tahmasb Mazaheri said on Saturday that Iran has drawn up various means of facilitating foreign investment in Iran.

Speaking at Iran's Eighth International Petrochemical Forum, Mazaheri said that among the measures taken to facilitate investment was the provision of financial resources.

To improve investment climate, Iran has offered three guarantees comprising of providing investment security, reducing bureaucracy and guaranteeing investments, Mazaheri added.

Iranian government would guarantee the foreign investors' initial capital in case of dispossession, nationalization or confiscation, he said.

Moreover, investors can set prices for their products and export them without being worried about government interference, but within Iran's national laws, Mazaheri noted.

They can also use interests gained in Iran for investments abroad or for re-investing in Iran, the CBI governor stated.

He also spoke of other guarantees, the fourth one, which would be for investing in infrastructural industries including power grid, adding that if foreign investors produce commodities whose networks are under state monopoly, the government will purchase such commodities and distribute them as part of the fourth guarantee.

Investment would come under Iranian Investment Law based on which investors will face with no losses, he reiterated.

Petrochemical products should meet both foreign and domestic needs and will have good value-added, he noted.

The two-day Iran's Petrochemical Forum, which opened today with an inaugural address by Oil Minister Gholamhossein Nozari, is being attended by 118 domestic and 76 foreign companies from 27 countries.