Commercial Delegations Destined to Iran for Oil, Gas

Seif told the First Seminar of Investment in Iran, held in Singapore on Wednesday, that the delegations visiting Iran are interested in oil and gas, banking, aviation, tourism, auto and infrastructures.

He said, “Iran’s Gross Domestic Production (GDP) is expected to show five percent and even more growth in light of continued cautionary policies, increase in oil exports along with positive shocks in growth and complete elimination of economic sanctions.”

Seif said in the first three months (March 20-June 21) of this year (started on March 20), the GDP grew by 5.4 percent and inflation rate turned one digit from a climax of two digit thanks to the restrictive monetary policy of the CBI.

The official said Iran’s foreign debt is times low and its balance of payments is positive. “In the past several decades, the balance of payments was positive and in surplus condition; so, low rate of foreign debt, which is about two percent of the GDP, can be a reliable source for future performance of Iran in attracting investment and foreign sources.”

The CBI chief said politically speaking, the Iran-G5+1 nuclear accord proved peaceful nature of Iranian nuclear program. “With total elimination of sanctions, this has resulted in re-linking of Iranian economy with the world markets and most importantly, this will pave the way for recourse of Iranian banking system to the international financial markets.”