New agencies ‘soon’ to be set up to ease foreign investment: OIETAI
Iran will soon set up new foreign investment promotion agencies to streamline licensing, residency and foreign currency procedures for overseas investors, a senior official at the country’s Organization for Investment, Economic and Technical Assistance (OIETAI) said.
“These agencies will be launched soon,” the acting head of OIETAI, Mehdi Heidari, said at a conference titled “Foreign Investors: Opportunities and Challenges,” according to Tasnim news agency.
The agencies are intended “to facilitate processes such as permits, residency and currency-related matters, while providing integrated services that safeguard the dignity of foreign investors,” he added.
Gold-based capital entry
Heidari said the government is also implementing a new measure allowing foreign investors to bring capital into Iran in the form of standard gold bullion.
“Under a newly approved decision by the Foreign Investment Board, investors can import gold, then offer it on the Iran Mercantile Exchange or the Foreign Exchange and Gold Center,” he said, adding that the move is expected to preserve asset value while enabling investors to enter production and export-oriented sectors.
In October, ISNA reported that two foreign investors imported about $4 million worth of standard gold bullion through the Foreign Exchange and Gold Center, with the first batch offered for sale on the Center’s trading platform. Analysts said the development signals renewed interest in Iran’s precious metals sector and a shift toward alternative channels for managing currency and commodity flows.
Heidari also said the government plans to decentralize investment decision-making. “Investment board meetings will no longer be held only in Tehran. They will also be convened in provinces, depending on the nature and potential of each region,” he said.
He emphasized that Iranian law guarantees equal treatment for domestic and foreign investors, but added that additional incentives may be required. “It is necessary for responsible agencies to offer special incentives, such as establishing industrial zones dedicated to foreign investors, in order to increase their motivation to enter the country,” he said.