Lack of transparency challenges foreign investment in Iran

TEHRAN, Sep. 18 (MNA) – A member of European Central Bank’s Executive Board and an auditor in PricewaterhouseCoopers firm says transparency is still the major obstacle to international companies’ cooperation with Iran.

During a meeting between private sector activists and representatives of PricewaterhouseCoopers firm (PwC) on Monday in Tehran, Jens Rönnberg said that the main obstacle which prevents international companies from investing in Iran is lack of transparency.

“We must pay special attention to financial security. Iranian companies must be responsible for risk management and ensure the investors that they have thought out potential risks," he added.

Rönnberg went on to say that if such prerequisites are met, investors will notice the transparency in implementing international regulations. "Hence, PwC can help Iranian companies to reach a desirable level of transparency," he added. 

Roenberg held that if an Iranian company decides to invest in a foreign country, it will require transparency to find an investor; "many Turkish banks and companies have worked with Iranian banks, but they had problems in cash transfer or any other financial transactions which were due to lack of transparency in enforcing international laws and regulations," he said. 

“We will offer financial services to Iran and employ transparency for our customers; besides that, we will enforce laws against money laundering in Iran," he stressed. 

PricewaterhouseCoopers (doing business as PwC) is a multinational professional services network headquartered in London, and operating in 157 countries. It is the second largest professional services firm in the world, and is one of the Big Four auditors, along with Deloitte, EY and KPMG. 


News Code 127923


Your Comment

You are replying to: .
  • 5 + 11 =