Japanese investors eye Iran's tourism, oil sectors

Japanese investors are seeking opportunities in Iran's tourism and oil sectors, Iran Daily reported on Sunday. A Japanese company, which owns over 200 hotels across the world, has announced its readiness to invest in chain hotel construction in Iran, Abolfazl Kudei, caretaker of Iran Foreign Investment Organization, was quoted as saying. Kudei welcomed the Japanese interests in hotel constructions in Iran and announced his country's readiness to offer facilities to foreign investors. In a meeting with Kudei on Saturday, the manager of the unnamed Japanese company expressed hope to witness better conditions for foreign investors in Iran, while positive international developments emerge vis-a-vis the Islamic republic. On Saturday, an Iranian deputy oil minister said some Japanese firms are interested in partnership with Iran in upstream projects of oil industry, according to the daily. Tehran and Tokyo intend to make joint investments in Iran's oil sector, Deputy Oil Minister for International and Commercial Affairs Ali Majedi said. "Based on joint plans, relations between Iran and Japan, and the investment of Japanese firms in oil industry will boost," Majedi was quoted as saying. "Presently, the Japanese are interested in active partnership and investment in upstream sector of oil industry, especially development of oilfields, and we hope that this will be materialized." Businessmen and officials from both countries have held talks in economic and trade fields in recent months to explore ways of expanding bilateral ties.