Tehran: Iran's Minister of Economic Affairs and Finance, Abdolnaser Hemmati, has announced that foreign investors are now welcome to work in the Islamic Republic. Hemmati, who accompanied President Masoud Pezeshkian during a visit to Russia, made this remark at a meeting with Russian economic activists, expressing Iran's readiness to issue guarantees for exporters.

According to Islamic Republic News Agency, the Organization for Investment Economic and Technical Assistance of Iran is also prepared to attract foreign capital, with Hemmati affirming the Islamic Republic's commitment to address investors' inquiries. He assured potential investors of guaranteed investments in renewable energy, a priority outlined by President Pezeshkian.

The minister emphasized the importance of expanding cooperation between Iranian and Russian private sectors, highlighting Iran's interest in collaborating with the Russian Post. Meanwhile, Iran's Petroleum Minister Mohsen Paknezhad described Iran's oil industry as a treasure trove of investment opportunities. He noted that Russian companies currently have contracts in several Iranian oil and gas fields, totaling investments exceeding $7.5 billion, and conditions have been created for Russian firms to supply goods for Iranian oil projects.

In addition, Iran's Energy Minister Abbas Aliabadi announced that investments of up to 30,000 megawatts are possible in the country's electricity sector. He praised the cooperation with Russia in electricity, stating that Iran has facilitated the export of electricity and made the power grid accessible to investors who can supply electricity to neighboring countries.