Iran to launch joint investment funds with Russia, Oman, Saudi Arabia

A member of the Board of Executive Directors of the National Development Fund of Iran (NDFI) said the country has plans to set up joint investment funds with the Russian Federation, Oman and Saudi Arabia.
The NDFI is after cooperating with the funds of the neighboring states and negotiations are underway with Russia to launch a joint investment fund, Hossein Eyvazlou stated, reported Tasnim news agency.
Highlighting the cooperation of the NDFI with the wealth funds of other countries, he noted that the NDFI is tasked to cooperate with other funds throughout the world and priority has been given to the wealth funds of the neighboring countries.
Positive signals have been received from Russia, showing that the country is keen on setting up a joint investment fund with Iran, Eyvazlou added.
In this regard, the NDFI has prioritized launching joint investment with the neighboring states in the oil, gas, petrochemical and pharmaceutical fields, he said.
The official pointed out that his fund has also held negotiations with the Sultanate of Oman and Saudi Arabia and it is hoped that the sides to join joint venture projects.
The NDFI has also concluded agreements with African states, he said.
There are ways other than SWIFT in the international payments, he said, stressing that the Central Bank of Iran has defined special methods for establishing relations with the brokerage companies of other countries and this mechanism has started among Iran’s neighboring states.

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