Code: 1061617 A

Head of Mines and Mining Industry Commission of Iran Chamber of Commerce, Industry, Mine and Agriculture (ICCIMA) says the Chinese are interested to have $400b investment in different sectors in Iran and it is expected $80b to be invested in the mining sector.

Speaking to ILNA, Bahram Shakouri expressed his views on Iran-China 25-Year Document and its impacts on the mining sector and said there are different views on the Chinese investment in the mining sector.

"some believe this agreement will cause damage for the country but I believe that foreign investment can help the country grow and excel, noting that if Iran can have a good cooperation with other countries especially with a country like China, it will help it."

He pointed to the scale of investment by the Chinese in the mining sector, saying that what is seen in the document shows that the Chinese are interested to have $400b investment in different fields in Iran of which $80b will be in the mines and mining industry. Shakouri reiterated the amount of investment in Iran’s mines and mining sector since Reza Shah has hardly touched $50b.

He reiterated that even this small amount of investment in the mining sector has led to creation of job, development, production and exports, admitting that $80b is a very considerable amount.

Shakouri said this amount of investment as well as other investments in other fields like infrastructures, transportation, developing ports can have very good results for the country. He added that perhaps the concerns of people about this agreement is that those countries which have attracted investment from China have not been happy and there are also some concerns about finalizing these agreements.

He reiterated that if the Chinese sign deals with the private sector, then the private sector because of its own interest will not risk and as the result it will meet the national interests.

Shakouri reiterated that ICCIMA, Majlis and all bodies in the country are working hard on the agreement in order that it meet the national demands, reiterating that the contracts should be a win-win ones as both the Chinese and Iranians can benefit them and one cannot expect only the two parties just benefits the agreements.

Responding to a question on the investment of the Chinese in Iran’s mining sector till now, he said due to sanctions, foreigners and even the Chinese have not have significant investments in this sector and due to sanctions they preferred to buy mining products and China’s investment has not been considerable.

Shakouri noted that this document can help more capital to enter Iran’s mining sector, adding that Iran has huge capacities in this industry which has attraction for investment.

He said all should have positive approach to this document but at the same time we should increase our vigilance that the agreements are signed in a way that both parties benefit them.

END

China Iran’s mining sector Iran-China 25-Year Document China’s investment
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