Monday, December 06, 2004

Foreign direct investments best suited for Iran

Foreign direct investments best suited for Iran: "Foreign direct investments best suited for Iran
Tehran, Dec 6, IRNA -- The MP from Tehran said on Sunday that direct foreign investments is the most beneficial and important approach among alternative types of foreign investments.
Ahmad Tavakoli also the Head of Majlis Research Center said domestic resources and new technologies, if utilized properly, will boost economic activities in the country and "there will be no need for foreign investments."

Short-term foreign investments is problematic for Iran such that a large lump-sum of capital flow into the economy can destabilize production, create crisis in the real estate and stock markets and skew market prices.

Various measures of investment risk and stability of economic environment as is gauged by Western economic institutions are not appropriate for our country, he added.

Deficient ownership laws, pervasive corruption, economic instability, fickle laws and regulations including labor laws are the problems of the domestic economy, Tavakoli said.

He also added most of the government investment in the period 1370-1381 (1990-2001) were channeled in the service sector, creating unsuitable situation for economic growth.

He said there is a need to prevent capital flight and wastage of resources.

"To attract foreign investments, domestic industry should be strengthened," he added.

He further said improving the investment situation is only possible through removing hurdles on investments for domestic, expatriates and foreign investors.

Managing Director of Economy and Finance Ministry for Foreign Investment Affairs said here in September that the total foreign investment inflows to the country stood at dlrs two billion in the last Iranian year (ended March, 19).

"The figure will, at the minimum, register a fourfold rise this year," Ahmad Taqavi underlined.

Speaking to reporters, he said the announced figure of dlrs 120 million of foreign investment in Iran in 2003 by the United Nations Conference for Trade and Development (UNCTAD) is erroneous.

He said since the period 1993-94, the foreign investment trend has been favorable and continuous. Notably, beginning last year and in the first five months of this year foreign investment inflows have showed solid growth, he added.

In the first five months of the current year over dlrs 3.871 million of foreign investment projects have been commissioned, Taqavi remarked.

"Facilitating the domestic payment system is one of the constructive steps in instilling incentives foreign investors," he added.

Iran has signed agreements with 48 nations on support of joint trade and investments. The agreements stipulate for governments to finance private companies making the pacts an effective tool in support of economic vibrancy in Iran."

Iranian American Playboy Reza Pahlavi formerly of Iran discusses the Persian Gulf with the National Geographic

Reza Pahlavi of Iran discusses the Persian Gulf with the National Geographic: "
Press Release Source: Secretariet of Reza Pahlavi

Reza Pahlavi of Iran discusses the Persian Gulf with the National Geographic
Monday December 6, 12:20 am ET
WASHINGTON, Dec. 6 /PRNewswire/ -- Reza Pahlavi of Iran was received, on Friday, December 3rd, by John M. Fahey, Jr., President and CEO, of the National Geographic Society for the purpose of bringing clarity to the issue of National Geographic's recent usage of a secondary name (Arabian Gulf) for the Persian Gulf.

"The meeting with Mr. Fahey was an in depth and thoughtful discussion of the historic and academic facts regarding the Persian Gulf," said Reza Pahlavi of Iran. "It was an opportunity to unequivocally express, on behalf of my compatriots, our unwavering national position on the sole usage of the name Persian Gulf."

"I am pleased to have been reassured by Mr. Fahey that the National Geographic Society recognizes 'Persian Gulf,' as the undisputed historic name of the body of water south of the Iranian plateau," the forty-four year old political leader added.

During the meeting, National Geographic Society CEO, John Fahey, assured Mr. Pahlavi that his organization was respectful and fully cognizant of the level and depth of sentiment among Iranians on the matter, disclosing that his organization was in the midst of an in depth study and reflection on the merits of the use of a secondary name for the Persian Gulf.

Reza Pahlavi, who has been leading a campaign of political defiance against the Theocracy of Iran, is the former Crown Prince of Iran. He is an accomplished jet fighter pilot and graduate of US Air Force training program at the former Reese Air Force Base. Author of Winds of Change, The Future of Democracy in Iran, he is a Political Science graduate of the University of Southern California.

The National Geographic Society is one of the world's largest nonprofit educational and scientific organizations. Its magazine, the National Geographic, is published in 24 languages with a global circulation spanning every country."

Latest Business News and Financial Information |

Latest Business News and Financial Information | "All Options Open for OPEC Meeting - Iran

By Christian Oliver and Amir Paivar
TEHRAN (Reuters) - All options, including cutting quotas, are up for discussion when OPEC ministers meet in Cairo this week to plan their response to a sharp fall in prices, Iran's Oil Minister Bijan Zanganeh said Monday.

Asked whether the Organization of the Petroleum Exporting Countries (OPEC) might consider cutting quotas and not just rein in oversupply above official quota limits, Zanganeh said:

"We'll discuss everything at this OPEC meeting. Everything is still open."

Speaking to reporters on the sidelines of an oil and gas conference in Tehran, Zanganeh said OPEC "must be very concerned about prices" which fell 14 percent last week on signs of healthier winter fuel inventories in top consumer the United States.

"The first step is to be committed to what OPEC has decided and for members to observe their production quotas," he said.

"In the second instance we should decide what to do for the next quarter," he added.

The OPEC meeting in Cairo begins Friday to plan production policy for the first quarter of 2005.

Iran, the cartel's second largest producer after Saudi Arabia, has expressed repeated concern in recent weeks about oversupply of crude in the oil markets, which it has put at two million barrels a day (bpd).

A Reuters survey of October's output for the group's 10 members with quotas put total production about 900,000 bpd over the November ceiling of 27 million bpd.

"Oil demand is already being met with the oil produced. Reserves are in a good position," Zanganeh said Monday."