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Iran, land of stability in the region

At the Iranian Petrochemical Investment and Development Conference in Vienna, Mohammad Khazaei, head of Organization for Investment, Economic, and Technology Assistance of Iran (OIETAI), pointed out the various benefits of investing in Irans petrochemicals, emphasizing that the issue of the resumption of sanctions has been solved completely.

(SHADA: TEHRAN) -- Khazaei told the representatives of European companies that all the things about snapback have been completely solved and there is no problem at the moment, and we are entering a new phase which is a success for the Iranian economy.

He said Iran is a stable land in the region and added: "We now see capital transfers from the countries of the region to Iran due to the unstable situation in some countries of the region and Iran is a good place to invest and cooperate financially."

"In 2016, for the first time in Iran's history, we have issued guarantees for about $12 billion in Iran, which has never been so high in the past," said the head of OIETAI, adding: "The level of foreign investment registered in Iran is unique; although it may not be as good as the size of the Iranian economy, it is really very significant compared to the past."

"We are ready to expand our engagement with foreign companies in various fields, including purchasing equipment and technology, providing public-private partnership (PPP) projects, as well as accepting any foreign investment; but it is necessary to remind that in today's economy an active credit line is required. European countries, such as Austria, have taken the necessary steps to create new credit lines and finance to enhance trade relations with Iran."

"I am glad to inform you that, in addition to Austria, we have been negotiating with countries such as Denmark, Italy, Britain and Germany, and outside Europe with China, South Korea and Japan, and have reached agreement on financing; and soon we will sign large credit lines with these countries," he noted.

Khazaei pointed to various advantages for foreign investment in Iran's petrochemical sector and said: You know well that investment in the petrochemical sector is important for Iran, and it can be argued that no industry can do without relying on chemical industries and this is the government's policy to invest in petrochemical industries.

He further referred to the abundance of oil and gas reserves along with the vast market of consumption and the unique geographic location of Iran as factors of attractiveness of investment in Iran's petrochemical sector, and said: Due to Iran's good trade ties with the countries of the region, there is good context for foreign investment in Iran and the export of products to other countries of the region; when we issue a guarantee for foreign investment, if the investor chooses to export its products outside of Iran, this issue is also mentioned in the guarantee, so the government provides all the facilities needed to do this.

Referring to the improvement of the economic situation of Iran in recent years, such as economic growth, reduction of inflation, and social progress, he said that this is a good environment for economic cooperation and foreign investment.

Inflation control has begun in Iran before the nuclear deal, which shows that Iran's economic capacity is even possible in difficult circumstances, Khazaei stated.