Rouhani: Foreign investors in Iran must share benefits

August 31, 2015 11:32
1 minute read.

DUBAI - Would-be foreign investors in Iran should be prepared to share the benefits of their deals, the country's president said, indicating Tehran will impose tough terms that could clash with US regulations even after sanctions are lifted.

Business delegations from around the world have flocked to Tehran since the July 14 nuclear agreement, which could see international sanctions lifted in early 2016 and open Iran, an energy exporter with a large middle class, to world markets.

But President Hassan Rouhani on Saturday suggested foreign investors will be welcome only if they work with a local partner, hire local workers and transfer technology, in some of the most explicit comments to date about the obligations businesses are likely to face.

"If foreign companies or countries think they can take control of a market of 80 million people, they are mistaken, and we must not allow it," Rouhani said at a news conference broadcast on state television on Saturday.

"Our policy is that you bring your investment and technology to the country and partner with Iranians, and then a part of the Iranian and regional markets will be within reach of us both and there will be employment for our youth."

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