Iranian President Hassan Rouhani submitted the bill of bilateral investment promotion and protection agreements between the governments of Iran and Hungary to the Iranian parliament on Monday.
“Considering the significance of investment in utilizing resources and activating economic potentials and bearing in mind the necessity of encouraging and supporting Iranian and Hungarian investors and to pave the way for easier investment for cementing and enhancing economic relations and securing joint interests, this bill is submitted to the parliament,” reads the introductory passage of the bill.
Bilateral Investment Promotion and Protection Agreements (BIPAs) are agreements between governments of two Countries for the reciprocal promotion and protection of investments in each other's territories by individuals and companies situated in either State. They provide treaty based protection to foreign investment.
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