Iran plans co-investment funds with Russia, Oman, S Arabia

A member of the Board of Executive Directors of the National Development Fund of Iran (NDFI) said the country has plans to set up joint investment funds with the Russian Federation, Oman and Saudi Arabia.

News ID: ۸۱۸۱۵۳

06 January 2024

The NDFI is after cooperating with the wealth funds of the neighboring states and negotiations are underway with Russia to launch a joint investment fund, Hossein Eyvazlou stated.

Highlighting the cooperation of the NDFI with the wealth funds of other countries, he noted that the National Development Fund of Iran is missioned to cooperate with other funds throughout the world and priority has been given to the wealth funds of the neighboring countries.

Positive signals have been received from Russia, showing that that country is keen on setting up a joint investment fund with Iran, Eyvazlou added.

In this regard, the NDFI has prioritized launching joint investment with the neighboring states in the oil, gas, petrochemical and pharmaceutical fields, he said, tahlilbazaar reported.

Elsewhere in his remarks, the official pointed out that the Fund has also held negotiations with the Sultanate of Oman and Saudi Arabia and it is hoped that the sides will agree on investment projects as joint venture (JV).

The NDFI has also concluded cooperation agreements with African states, he said.

Among the 10 members of the Economic Cooperation Organization (ECO), the NDFI has agreed to launch joint funds with seven, he maintained.

There are ways other than SWIFT in the international payments, he said, stressing that the Central Bank of Iran has defined special methods for establishing relations with the brokerage companies of other countries and this mechanism has started among Iran’s neighboring states. / MEHR