Saturday, November 06, 2004

Italians pull back from investing in Iran

IranMania News: "Italians pull back from investing in Iran

Saturday, November 06, 2004 - ©2004 IranMania.com
LONDON, Nov 6 ( IranMania) – The Iranian Parliament’s recent ratification concerning foreign investment in the country with the controversial Turkish companies ‘Turkcell’ and ‘Tuv’ saga at its core has made Italian investors pull back from economic activities in Iran, Iran’s Hamshahri Daily reported.

The new Parliament’s bill obliges the government to obtain parliamentary consent prior to conclusion of any deal with foreign companies.

“Italy has always held a positive view toward Iran in the political domain and it has in many cases influenced the European Union’s stance towards Tehran. Currently Tehran and Rome are closely cooperating with each other in petrochemical, steel and mines sectors. Given Italy’s significant progress in the gold and jewelry industry, Iran intends to obtain this technology and thus needs closer ties with Rome.” Dr. Behkish, the head of Iran-Italy’s joint commerce chamber said.

“However the new parliament ratification has led to a negative view toward Iran among Italian investors who are prudent by nature. They now believe that the Iranian Parliament is not interested in establishing economic and trade ties with foreigners. If the parliament had taken a more reasonable approach toward the two controversial Turkish companies, we would have had fewer problems in winning the trust of foreign investors today.” Behkish added."

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