A seminar on opportunities of investments in Iran was held in Kuwait City Monday.
The Iran Deputy Economy and Finance Minister Mohammad Khazaei headed the Iranian delegation attending the seminar.
Head of Kuwait Chamber of Commerce and industry in statements reiterated the interests of Kuwaiti businessmen and entrepreneurs in expansion of investments and trade ties with Iran.
Ali Sanian al-Qanem said that the conference can identify investments opportunities in Iran and be impetus to increase trade between the two Persian Gulf nations.
Khazaei referred to the measures taken by the Iranian government to facilitate foreign investments and other laws ratified by the Majlis for easing capital inflows to the country.
He also alluded to the increased exchange of trade between the two countries in the recent years.
Since the Iranian year 1383 (ended March 19), offices in various provinces have been set up to give foreign investment advice. The centers assist investors better gauge the investment potentials of various regions.
The share allowed foreign investors is from 20-100 percent of the total value of a project's initial investment. Projects are spread all over the country.
Changes and amendments made in Iran's taxation law as well as banking rates have prepared grounds for active cooperation of both sides private sectors, he said.
Another speaker Head of Iran Chamber of Commerce, Industry and Mines (ICCIM) Ali Naqi Khamoushi also said the two nations are increasing bilateral trade and investments in various sectors.
He said the economic growth in Iran is projected to top 12.7 percent during Iran Five-Year Development Plan (March 2000-2005) which given the suitable fiscal and monetary policies is reckoned to pave the ground or boosting bilateral trade volume.
However, he said the current economic environment calls for foreign investment to generate growth and development.
Referring to amicable ties between the two countries, he said such agreement would pave the way for expansion of economic cooperation between the two sides which both have ample untapped economic and commercial potentials as well as suitable geographic locations.
Changes and amendments made in Iran's taxation law as well as banking rates have prepared grounds for active cooperation of both sides private sectors, he said.
Iranian Charge d'Affaires to Kuwait Abol Ghassem Shashini here last week invited Kuwaiti businessmen to invest in Iran.
Speaking to a group of Kuwaiti businessmen, he said Iran has set up an economic environment that is conducive to foreign investment and has approved regulations and facilities whereby foreign investors can invest in the country with peace of mind, the official said.
Shashini, referring to the growing trade between the two Persian Gulf nations, said that bilateral trade topped dlr 234 million last year.
However, he said the figure is still inadequate given the ample potentials of the two nations.
He further informed that in the past six months several agreements have been signed by the two countries that will have the effect of greatly increasing their volume of trade as well as the number of tourists visiting the two states.