Gov’t sets strategy to attract foreign investment
Foreign investment is a key driver of economic development for all countries as it plays a crucial role in technology transfer, job creation, infrastructure development, trade and export growth, international relations, reducing dependence on domestic resources, and attracting skilled talent.
However, foreign investment also presents challenges, such as over-reliance on foreign companies, inadequate control over strategic resources, and capital outflows.
According to IRNA, the administration of Iranian President Masoud Pezeshkian is addressing these challenges by formulating policies to attract and manage foreign investments.
This includes enhancing legal transparency, safeguarding investor rights, and creating a secure and stable investment environment. Efforts are also underway to strengthen ties with neighboring countries, which have always been strategically important to Iran.
In this context, Abdolnaser Hemmati, the economy minister, recently visited Riyadh, Saudi Arabia, to participate in the 28th Global Investment Conference. His trip, at the invitation of Saudi Arabia’s Minister of Investment, aimed to explore new avenues for foreign investment.
Hemmati met with key figures such as the President of the Islamic Development Bank (IsDB), the OPEC Fund President, and the heads of global investment promotion agencies.
Hemmati’s diplomatic efforts reflect the broader strategy of expanding Iran’s economic diplomacy with neighbors and East Asian powers.
Earlier, he had traveled to Uzbekistan to attend the 9th Annual Meeting of the Asian Infrastructure Investment Bank (AIIB), demonstrating Iran’s commitment to engaging with both Western and Eastern partners.
The annual meeting of the World Association of Investment Promotion Agencies (WAIPA), served as a key platform during Hemmati’s trip to Saudi Arabia. He discussed international best practices in foreign investment and proposed hosting the 30th WAIPA conference in Tehran in 2026.
Hemmati also secured agreements to hold specialized workshops on foreign financing, international marketing, and innovative funding methods for public and private sectors in Iran.
Meetings in Riyadh with 18 ministers from other countries and leaders of financial and development institutions further underscored Iran’s proactive approach. The discussions aimed at enhancing bilateral investment opportunities and facilitating economic interactions between Iranian entrepreneurs and foreign markets.
Hemmati’s visit to Saudi Arabia marks a continuation of efforts to address shared challenges and expand economic ties based on a win-win approach. As Iran strengthens its economic diplomacy, it seeks to revitalize international financial relations and improve the livelihood of its people.
The Iranian government’s focus on economic priorities in foreign policy is expected to create significant opportunities for growth.
Enhanced cooperation with Saudi Arabia and other neighboring countries, particularly in tourism, trade, and cultural exchange, could have a profound impact on Iran’s economic development, signaling a new chapter in regional collaboration and national prosperity.