Iran at a glance
Islamic Republic of Iran with the population of 79,476,308 people is located in south- west Asia as the second largest country in the Middle East. Tehran is the country's capital and largest city, as well as its leading cultural and economic center. Iran is a major regional and middle power exerting considerable influence in international energy security and the world economy through its large reserves of fossil fuels. Iran's rich cultural legacy is reflected in part by its 19 UNESCO World Heritage Sites, the fourth-largest number in Asia and 12th-largest in the world.
Iran as a safe investment destination….
The country neighbors with Turkey and Iraq in west, Afghanistan and Pakistan in East, Armenia, Azerbaijan, Russia, Kazakhstan and Turkmenistan in North and Kuwait, Saudi Arabia, Qatar, Bahrain, United Arab Emirates and Oman in South through Persian Gulf and Oman Sea. According to the reports of the international institutions like the World Bank, Islamic Republic of Iran, with having more than 700 billion dollars GDP, scores the eighteenth out of twentieth outstanding economies, eighteenth and sixteenth for population and area respectively.
The Law on foreign investment in Iran under the name of “Foreign Investment Promotion and Protection Act” (FIPPA) was ratified by the parliament in 2002.Some specific enhancements introduced by FIPPA for foreign investment in Iran can be outlined as follows:
1-Broader fields for involvement by foreign investors.
2-Broader definition given to foreign investment, covering all types of investments.
3-Streamlined and fast track investment licensing application and approval process.
4-Creation of a one stop shop called the “Center for foreign investment Services” at the organization for investment for focused and efficient support for foreign investment undertaking in Iran.
5-More flexibility and facilitated regulatory practices for the access of foreign investors to foreign exchange for capital transfer purpose.