In the meeting between the Deputy Governor of the central bank of the Islamic Republic of Iran and the Filipino-Chinese Investors:

Iran's economic conditions are suitable for foreign investment

Iran's economic conditions are suitable for foreign investment
TEHRAN (CBI PR dept) – One of Iran's most important economic policies is to communicate and expand cooperation with Asian countries, especially Southeast Asia. Iran's relations with Southeast Asian countries such as China, Malaysia, Philippines, and Indonesia etc. have always been satisfactory.

“The Iranian economy faced international constraints in the early days of  the 11th administration due to unfair sanctions, while with the start of negotiations with the p5+1 countries, expectations in the economic climate became rational”, said Akbar Komijani in a meeting with Philippine ambassador and the Joint Investment Board from Philippines and China.

“Having agreed on JCPOA in 2015, both the government and the central bank were able to observe the effects of economic policies of the previous four years on the country's economic growth.  JCPOA resulted, among other things, in increase in economic growth of about 12.5%. In addition to the growth of the oil and gas sector, growth of other sectors of the economy has also been positive” he added referring to the high economic growth.

“The Iranian economy had benefited from these negotiations even before reaching an agreement. In this regard, inflation reached a single-digit level to about 9% from a peak of  about 40% in the start of the 11th administration in the past two years” stated the Deputy Governor of the central bank.

Komijani emphasised that the country's economic conditions are suitable for foreign investments. “One of Iran's most important economic policies has been to communicate and expand cooperation with Asian countries, especially those in Southeast Asia. In the same vein and over the past years, Iran and the countries of Southeast Asia, such as China, South Korea, Malaysia, the Philippines, Indonesia, etc. have enjoyed a good level of cooperation”.

“The expansion of banking ties is a prerequisite for economic and trade cooperation and in this regard, we are prepared to expand cooperation between the commercial and central banks of both sides”, he added.
 
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In this meeting, Jose de Venecia, the Speaker of the House of Representatives of the Philippines and head of Investment board said, "Recent changes in the region, especially in the economic and political spheres pave the grounds for cooperation between the two sides. We are confident that Iran can be an important business partner for us and the Philippine government is prepared to expand its banking relationships with Iran".

"The Philippines and China are now seeking to expand their cooperation and trade relations with Iran, especially in the field of petrochemicals" he added.
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