What problems may encounter and experience private foreign and local companies in investing in Iran?
Formerly there were problems mainly in the legislation. This is a serious problem. Therefore, under the supervision of the President of Iran there was created a team to eliminate problems in the legislation. The work group is to amend the labor laws, the Financial Regulations of tax on insurance and on banks. Another problem was the delay prior to issue licenses to private companies. For example, if you have a company wanted to build a factory, it receives a license only after 3-4 months. Now all the Government no later than 1 month must present a license to companies Q: What about the privatization in Iran, which sector is more active in this process – oil or non- oil? A: Over the past 3 years $ 40 billion was transferred to the private sector. During this period, 265 enterprises were privatized in the industry sector. Petrochemical and processing plants were privatized in the oil sector. Steel mill in Isfahan and Huzestane, the entire copper industry in Iran has already been privatiz
