Seyyed Mohammad Qasem Hosseini said the plan aims to promote investment and transfer of Iranian science and technology abroad.

As reported by the INDF Public Relations, more facilities will be provided to joint ventures in the future.

Hosseini said foreign investors can apply for more than 20 percent of the NIDF funds if they have justifiable proposals and business plans.

“Improving foreign investment for the betterment of the country’s economy is effective under current sanctions,” he said, adding that business plans and proposals will be introduced to the INDF through agent banks and “the fund is not engaged in assessing the technical or economic aspects of the proposals”.

Hosseini further said foreign investors who want to use the fund’s facilities should apply with the parliament, adding that the NIDF is trying to cut unnecessary bureaucracy “in order to partner with investors directly.”