Iran FDI to Grow under Possible Nuclear Deal: US Economist
TEHRAN (Tasnim) – Iran is expected to attract more foreign direct investment (FDI) once it reaches a comprehensive nuclear agreement with the Group 5+1 (Russia, China, the US, Britain, France and Germany), an American professor of economics said.
"I do think getting the (nuclear) agreement will increase FDI (in Iran) - I would need do research to even guess how much, but I am quite sure it will increase it some," Al Campbell, a professor emeritus at the University of Utah's Economics Department told Tasnim in an e-mail interview.
He also described the US-imposed sanctions against Iran as an example of aggression that has caused the FDI to decline in Iran.
"I do think the aggression the US has brought against Iran on the nuclear issue has caused some FDI to withdraw (not be made) into Iran," said Campbell.
The professor also expressed optimism about achievement of a final nuclear accord between Iran and six world powers.
"A nuclear agreement between Iran and the US would be good for the poor and working people of the world - it is to their benefit if the most powerful country in the world (the US) is not able to carry out whatever aggression (economic or military) it wants against whatever country it wants to, whenever it wants to," he explained.
Iran and the Group 5+1 (alternatively known as P5+1 or E3+3) have been negotiating over the past 22 months to end more than a decade of standoff over Tehran's civilian nuclear program once and for all.
The two sides are busy negotiating in the Austrian capital of Vienna to clinch a nuclear deal.
On Tuesday, the parties gave themselves an extra week beyond an end-June deadline to nail down details of the long-awaited accord.