Page 19 - IRANRptMay19

Rouhani visit
impact of US sanctions on its economy.
A plan to build a railway linking the neighbouring countries and signed memoranda of understanding on oil, trade and health were presented by Rouhani and Iraqi Prime Minister Adel Mahdi. The railway is to link the southern Iraqi oil city of Basra and the Iranian border town of Shalamcheh. Moves to make it easier for businessmen and investors to obtain visas, and a measure making travel visas free of charge for pilgrims and other travellers were also set to emerge from Rouhani’s talks with Iraqi officials.
Rouhani said Shi’ite Muslim Iran was determined to strengthen ties with its Shi’ite-led Arab neighbour, Iranian state television reported.
Iranian Foreign Minister Mohammad Javad Zarif said on Twitter that the two countries were in discussions to create joint industrial zones. These would likely emerge near the Arvand Free Trade Zone in Iran which borders Iraq.
5.3 FDI
Iran FDI 2010 2011 2012 2013 2014 2015 2016
FDI net inflows (BoP) (USD bn)
3.649 4.277 4.662 3.05 2.105 2.05 3.37
FDI net inflows (% of GDP)
0.749 0.733 0.778 0.653 0.485 0.531 0.805
FDI net outflows (% of GDP)
0.049 0.044 0.226 0.04 0.001 0.031 0.025
source: World Bank
Currency Fund for Iranian Expatriates steps up efforts to deliver investment to homeland
Iran offers residence ‘$250K’ investors
The Currency Fund for Iranian Expatriates is looking to cooperate with expats to bring investment to Iran, Mehr News Agency reported on April 15.
An estimated 10-15mn first generation Iranians alone live abroad.
The fund, based on the free trade zone island of Kish in the Persian Gulf, is one of only a few organisations that looks to connect Iranians abroad with projects inside Iran.
Director general of the fund Amir Soozanchi is one of a modest number of Iranian business people who look to tap into foreign capital. The fund has no direct link to the government of Iran.
“We, the Iranian expatriate community love our country very much and we are currently conducting 12 infrastructure projects across Iran,” Soozanchi said at a business conference held in the southern Iranian province of Hormozgan. The conference attempted to promote the southern region’s investment advantages.
Foreign investors who invest a minimum of $250,000 in Iran are to be offered a five-year residence permit, Mehr News Agency has reported. The threat of renewed US sanctions has seen many foreign investors in Iran make for the exit in recent months, with even EU efforts made so far in fighting back against Washington’s policy failing to dissuade a slew of big European companies from leaving the country. Air France and British Airways are among the latest big companies to announce they are ending their Iran operations . Turkey, which like Iran is fighting economic turmoil, recently made a similar offer to foreign business people. Qatar and the United Arab Emirates, meanwhile, have lately stepped up their efforts to woo those who can bring foreign investment.
19 IRAN Country Report May 2019 www.intellinews.com