TEHRAN, June 17 (UPI) -- Seeking to break its international isolation due to controversy about its civilian nuclear energy program, Iran is wooing foreign investment.
The Islamic Republic of Iran will have conferences in South Korea, India, Singapore and Malaysia in July and August to tout its new investment opportunities, The Tehran Times reported Thursday.
Among the fields opened for foreign investors at the conferences will be the country's oil and natural gas sectors, petrochemicals, car manufacturing, food, transportation, agriculture and telecommunications.
Iran had previously had investment symposiums in Portugal, Turkey and Qatar.
While much of the foreign investor interest will be in the country's energy sector, many will remain wary of breaching Washington's 1996 Iran-Libya Sanctions Act, which seeks to isolate Iran by punishing Western companies seeking a foothold in Iran's hydrocarbon sector by threatening companies with penalties and sanctions if they invest more than $20 million in developing Iran's energy resources.
