Sunday, May 22, 2005

Capital flight to UAE :: Iran News

Many economic experts and officials have called in recent months for a review of trade ties with United Arab Emirates following the tiny Persian Gulf country’s efforts to attract Iranian capital.

This is while some others believe that poor economic structures have led to a huge increase in the flight of capital and that Iran cannot force investors to stay home.

“We cannot keep investors at home at gunpoint,“ said Rassoul Seddiqi, an MP, adding that the existing investments would also exit the country, if the present trend continues.

Some 4,000 Iranian businesspersons have invested in Dubai due chiefly to poor facilities and restrictive investment regulations at home.

Related news at Iran News:
o Call for efforts to correct UAE trade imbalance
o Iranian bank in Dubai ranks third in profitability
o Iran, important reexports partner for Abu Dhabi
o 4,000 Iranians invest in Dubai
o Feature: Iranian investors in Dubai, unwilling to return
o ICCIM members involved in Dubai business
o Official against ban on reexport from Dubai
o Sharjah Fair on Iran Trade & Tourism underway
o Dubai has 4,650 Iranian firms



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