Breaking: Iran should welcome Chinese investment in mining, manufacturing sectors: EX-envoy
A former Iranian ambassador to Beijing says Iran should welcome growing interest in China for investment in Iran’s mining and manufacturing sectors at a time when other investors are deterred from the Iranian market because of US sanctions.
According to Press TV, Mohammad Hossein Malaek said on Saturday that mining and manufacturing activity in Iran could experience a major boom in the upcoming years as a result of China’s pledge to invest in Iran as part of a 25-year economic partnership deal that is being negotiated between the two countries.
Malaek said foreign investment in Iran continues to suffer from restrictions imposed by the United States, saying any major commitment to investment by countries like China should be welcomed.
“No one takes the risk associated with investment in Iran and if such (Chinese) investment takes places we should view it as a positive phenomenon,” he said.
The Iranian government has ensured the agreement between the two countries would only bolster strategic ties between Iran and China and would help the two nations counter US influence both in West Asia and in East Asia.
Malaek said that the main focus of the Iran-China economic partnership deal is to boost Iran’s manufacturing output, adding that the Iranian mining sector would benefit from growing entrance of Chinese investment and technology in the upcoming years.
He said the Chinese contribution to the expansion of mines in Iran would increase the metals processing capacity in the country and lead to a reduction in exports of raw metals.