News ID: 254035
Published: 0240 GMT June 10, 2019

Rouhani announces law on Iran-Luxembourg investment support

Rouhani announces law on Iran-Luxembourg investment support

President Hassan Rouhani issued a directive on Monday on an agreement to encourage and support mutual investment between Iran and Luxemburg.

Rouhani in an instruction to the Ministry of Economic Affairs and Finance ordered to put into operation the law which was passed by the Iranian Parliament, IRNA reported.

In February 2017, high-ranking officials of Iran and Luxembourg signed an agreement to support investments and improve banking ties.

Ali Tayyebnia, the then-economy minister of Iran, met with the Luxembourg Minister for Foreign and European Affairs, Jean Asselborn, at the Ministry of Economic Affairs and Finance in Tehran and signed an agreement promoting mutual support for investments, with the goal of guaranteeing investment safety for the businesspeople of both countries.

“Iran’s policy is to improve ties with European countries, especially Luxembourg,” Tayyebnia said, adding that the agreement is a sign of mutual goodwill and interest in developing economic relations.

While improving banking ties with the small but economically strong European country remains a key issue following the lifting of international sanctions on Iran, Tayyebnia noted that the progress has not been satisfactory.

Tayyebnia emphasized Iran’s interest in signing an agreement to eliminate additional taxes, which he said would prove significant along with the reestablishment of relations between the two countries’ banks.

“Iran’s capital market is also in favor of creating ties with Luxembourg’s financial institutions,” he said.


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