Foreign investment growth in Iran, the outcome of JCPOA

EghtesadOnline: Minister of Industries, Mines and Trade Mohammad-Reza Nematzadeh said on Monday that foreign investment growth in Iran is the outcome of the Joint Comprehensive Plan of Action (JCPOA).

News ID: ۷۳۵۴۶۰

02 August 2016

According to IRNA, Nematzadeh made the remark in his address to a ceremony to mark the 50th Anniversary of Establishment of the National Iranian Gas Company (NIGC).

Nematzadeh said in the first few months of the current Iranian year, there were several counts of foreign investment in Iran.

He noted that many gas industry equipment is produced inside the country, so currently the industry has been indigenized.

Thanks to efforts of the Ministry of Petroleum in different sectors including exploration, drilling, platform construction, and onshore and offshore pipeline laying, the country's has gained great success, being able to compete with many other countries of the region, said Nematzadeh.

Now many gas refineries of the country enjoy high potential to the extent that equipment and services of majority of them are supplied by Iranian companies.

The ceremony commemorating the 50th anniversary of setting up NIGC aims to introduce potential of Iranian gas industry, the turning point in the gas industry in 50 years of service to the public, define the standing and role of gas in national economy, security, environment protection, lifestyle, economic development and social welfare, financial saving and fuel substitutes.

Minister of Petroleum Bijan Zanganeh, Minister of Industries, Mines and Trade, Head of the Department of Environment, Secretary General of The Gas Exporting Countries Forum, and Advisor to the President on Economic Affairs will deliver speech to the meeting.

A special panel meeting, entitled Prospect of the Oil Industry in the Next Half Century will be held on the sidelines of the ceremony.