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Iran woos international investment as n-deal takes effect

161 Days ago

Tehran: Iran on Sunday called on international entrepreneurs to participate in its economy after the comprehensive deal on Tehran's nuclear programme officially took effect on Saturday.

"We are in need of investments and technology and the ground in our country is prepared for such activities," Iranian President Hassan Rouhani said at a press conference after the European Union (EU) and the US lifted their economic, financial and energy sanctions on Iran on Saturday.

International Atomic Energy Agency (IAEA) Director-General Yukiya Amano announced on Saturday that Iran has completed the necessary preparatory steps to start the implementation of the Joint Comprehensive Plan of Action (JCPOA), an international deal on Tehran's nuclear program reached in July, 2015.

Iran also promises more transparency in its nuclear programme, letting UN nuclear inspectors monitor Tehran's atomic plan.

The US and EU sanctions on Tehran's disputed nuclear programme have largely cut Iran out of the international financial system during the past years. They have also put restrictions on foreign ventures to engage in Iran's energy and infrastructure development.

"Our country has necessary attractions for foreign investments. It has stability, security and tranquility. The Iranian government has implemented its pledges pertaining to economic promises and is committed to do so," Rouhani said, vowing to raise the GDP from the current three percent to five percent in the next year.

"Moreover, we have educated and capable human resources as well as energy sources, which makes it a proper ground for investments in diverse areas," he added.

After the nuclear agreement between Iran and the world powers in July 2015, a number of Western officials and business delegations have visited Iran for post-sanction cooperation.

Lifting the sanctions would unfreeze a huge amount of assets, around tens of billions of US dollars, and allow Iranian oil to be sold internationally. Tehran would be able to get access to the international financial system after being isolated for years.

Meanwhile, the Iranian president suggested that resolving the nuclear issue could also be a model for resolving disputes among regional states.

"Following the implementation of the JCPOA, our economic and political relations with our neighbours and regional states will improve far better than the past," Rouhani added. (IANS)

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