Director of Iran Privatization Organization met with first secretary of Brazil embassy during the 5th Kish International Exhibition of Bourse, Bank, Insurance and privatization and 10th Kish INVEX.

Public Relations liaison of Iran Privatization Organization (IPO) reported Pouri-Hosseini in meeting with first secretary of Brazil Embassy during 5th Kish International Exhibition of Bourse, Bank, Insurance and privatization stated “Iranian Privatization Organization is in charge of divestiture of state-owned assets and properties, according to which state-owned ownership and state-governance should be transferred to private sector.”

Director of IPO mentioned divestiture of 700 state-owned companies in the past years added “Another 500 number of state-owned companies are listed to be divested.”

Welcoming foreign investors to Iran economy he added “Brazilian Investors have not yet purchased shares of Iranian companies. “ He also added “Based on legal requirements, Iranian Privatization Organization is obliged to divest state-owned shares of companies to private sector, while trade and commerce takes place between the states of Iran and Brazil. “

He also mentioned “Cooperation between Brazil and Iran requires collateral assurance based on which Iran guarantees return of principle and yield of foreign investment and in a way Iran’s state is considered one side of the agreement. For instance if foreign private sector wishes to invest in Kish Island, state guarantees that his capital is not confiscated and ensures easywithdrawal of his investment at any time.

IPO Director noted “Responsibility of this organization is divestiture of state-owned companies. Therefore if Brazilian investors appeal to participation in Privatization they are welcomed.”

ZohreAalipour, Deputy of Iran Privatization Organization (IPO) mentioning previous meetings with Brazilian ambassador with Iranian economic heads stated “Brazilian officials are familiar with subjects of privatization. Therefore collaboration of these two countries can contribute to enhancement and improvement of divestitures and its related policies in both countries.”

First secretary of Brazilian Embassy expressing content about this meeting in the meeting also noted “Brazil has had many years of economic collaboration with Iran which surpasses 100 years.”

Filipe Abbott Galvão, implied “Brazilian has always been friend to Iran even in the toughest times. During last year total amount of contracts between the two countries exceeded 1.2 billion dollar.”