Mohseni-Ejei:

Iran's Judiciary ready to remove barriers to foreign investment

Rasa - The spokesman of Iran's Judiciary says the judicial system of the Islamic Republic supports foreign investment in the country and is ready to remove obstacles to facilitate such investment.

News ID: 3268

Date: 01 September 2015 - 22:47

RNA - Gholamhossein Mohseni-Ejei made the remarks during a press conference in Tehran, where a reporter asked about measures taken by the Iranian judicial system to support foreign investors against obstacles and efforts by some domestic companies that try to prevent presence of foreign firms because they are not able to compete with them.

Mohseni-Ejei said, “We have been following up on this issue for a number of years and we are cooperating with the [Iranian] administration in this regard right now.”

The official added that the Iranian administration is bent on eliminating all existing obstacles to investment and production, especially within the state-run organs.

“Naturally, the Judiciary will help in this regard wherever it will be able to do so, and there will be no difference between domestic and foreign investors,” he said.

Mohseni-Ejei, who is also Iran's attorney general, noted that “all people willing to make investments in Iran within framework of the Islamic Republic of Iran's laws and regulations and [according to regulations of] international trade system” will be supported by Iranian administration and Judiciary.

The official emphasized that if there are any obstacles to foreign investment that would require the Judiciary to help the Iranian administration and foreign investors, the judicial system “will certainly do this.”

According to a report released by the Organization for Investment, Economic and Technical Assistance of Iran (OIETAI) in late June, the Islamic Republic attracted a total of USD 3 billion in foreign direct investment (FDI) during the first quarter of the current Iranian calendar year (started March 21, 2015).

The report noted that the investment was made possible through Foreign Investment Promotion and Protection Act (FIPPA) at a time that sanctions imposed on Iran on account of its peaceful nuclear program were still in place.

OIETAI’s report added that the investment figure for the first quarter of this year shows a three-fold increase compared to total FDI attracted during the corresponding period of the preceding year.

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