Italy voices readiness for massive investment in Iran

During a business forum on Monday in Rome aimed at introducing Iran’s economic and investment opportunities and with participation of scores of Italian entrepreneurs and investors, as well as a number of political and economic officials from both countries, the Italian side expressed readiness for a more profound presence and massive investment in Iran once all banking obstacles have been eliminated.

The participants in the forum stressed that the persistence of banking obstacles and other restrictions is the main issue hindering the development of economic relations between the two countries, saying that economic and industrial cooperation between Tehran and Rome would begin first with the serious start of financial and banking cooperation.

"We will make every effort within the framework of the Iran nuclear deal to remove financial issues for the Italian companies which are interested in investing in Iran,” the Italian deputy FM Benedetto Della Vedova said at the forum.

Managing director of the Islamic Republic of Iran Shipping Lines (IRISL Group), Mohammad Saeidi, also extended invitation to Italian investors to participate in Iran’s maritime transportation projects.

According to him, Iran’s economy is the second best in the Middle East, with a GPD of $412 billion in 2016.

Following the signing of the Iran nuclear deal dubbed JCPOA in 2015, Italy was the first and most eager European country to send a high-ranking delegation to Iran for expansion of economic ties.