13 May 2013 16:00 [Source: ICIS news]
TEHRAN (ICIS)--Iran’s petrochemical industry should focus on non-equity modes (NEMs) of foreign investment whereby the business relations are based on contractual arrangements, rather than equity ownership, a senior Iranian government official said on Monday.
Iran plans to develop three new free trade economic zones in its sixth Five-Year Plan, namely Lavan, Chabahar and Sarakhs, and will welcome foreign investments in these developments, said Behrouz Alishiri, vice minister for economics and finance.
On a scale of one to ten, NEMs has median risks and rewards in terms of control and value chain management, compared with foreign investment that involve equity ownership, he said.
He was speaking on the sidelines of the 10th Iran Petrochemical Forum.
Iran aims to become the top petrochemical producer in the Middle East by 2025, in terms of output value, he added.
The two-day event in Tehran opened on 13 May.
Additional reporting by Prema Viswanathan
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