Reversibility of sanctions will hinder foreign investment in Iran

Reversibility of sanctions against Iran will hinder foreign investment in the country, said Iranian MP Jafar Qaderi.

“Under the current circumstances, which may lead to the re-imposition of sanctions, no one will accept to invest in the country, because the risk of investment is very high,” Iran ’s Tasnim news agency quoted Qaderi as saying July 22.

“The main concern about the deal with the P5+1 group is that they are allowed to re-impose the sanctions whenever they want. Although, Iran is also allowed to resume enrichment if the sanctions are re-imposed, but the question is, what will happen to foreign investment?”

“The other concern is the selling of weapons by Iran. It has been said that selling weapons will be possible with prior coordination. Iran is currently providing its friend countries, including Syria, Iraq, and Lebanon. So, if we want to export weapons, we should receive permission from international bodies. But, the US will not let the permission be issued,” he said.

The UN Security Council on July 20 unanimously adopted a resolution endorsing the Joint Comprehensive Plan of Action (JCPOA) reached July 14 between Iran and the P5+1 group on Iran’s nuclear program.

Iran attracted a total of $3 billion in foreign direct investment during the first quarter of the current Iranian calendar year (started March 21, 2015).

A report by the United Nations Conference on Trade and Development (UNCTAD) shows that the Islamic Republic attracted more than $2.105 billion in foreign direct investment in 2014.

/By Trend/