Iran: Fear of Corruption, Reason for the Reluctance of Foreign Investors
- Thursday, 15 December 2016 13:22
NCRI - Unbridled corruption in Iran is one of the most important factors in the regime’s failure to attract foreign investment, head of Tehran’s Chamber of Commerce on Tuesday December 13 in an interview with state-run Ebtekar newspaper stated and added: “Foreign trade delegations are concerned about corruption in Iran's government agencies.”
He also said “Out of 160 foreign trade delegations that came to Iran this year, more than 60 delegations had worry about corruption in the government institutions which led to negative growth in foreign investment in the country since 2011 and we have been witnessing capital outflows and unable to attract a major foreign investor ever since,” he admitted.
Massoud Khansari added: “In the past 30 years, corruption has always had an upward trend and all these offences imply that there is a problem in the country’s (infrastructure) system and if is not found soon, we will not have a good future.”
Head of Tehran’s Chamber of Commerce said: “Currently, there is an atmosphere in the country to fight corruption by arresting and executing a few people. While this is dealing with the cause, as long as the political and social structure (infrastructure) has problem, fighting corruption is like a superstructure work.”
Meanwhile, Massoud Daneshmand, member of Tehran’s Industries and Mines and Chamber of Commerce, in an interview with the same newspaper said: “We rank low on the corruption index (due to high corruption) and this raises investment risk.”
“The investor spends a lot of money for manufacturing, marketing and sale of goods. On the other hand, if similar merchandise is smuggled into the country, the investors in such circumstances would definitely fear to enter the economy,” he continued.
The newspaper continues: “Administrative corruption is a problem that will affect all sectors of the economy. This systemic corruption, according to some experts, has deep historical roots in the country. In addition, it also leaves a negative impact on the country in the world ranking which will affect the attitude of foreign investors.”
According to the newspaper, experts believe that corruption can be expected with the arrival of any government if the ad
According to the newspaper, experts believe that corruption can be expected with the arrival of any government if the ad
