According to the Public Relations Office of the National Development Fund, Mehdi Ghazanfari, head of this department in a meeting with Paul Biornesta, the ambassador of Norway in Iran, invited Norway’s National Wealth Fund and also investors to invest on mutual oil, gas, renewable energies and modern technologies projects done by both countries. Emphasizing on Norway’s former successful experiences in this field, he called for the exchange of knowledge and joint collaborations.

Highlighting the capacity of Iran’s National Development Fund, which currently manages around $170 billion in assets, Ghazanfari asserted that the fund is on the path to increasing its resources to between $200 billion and $250 billion. He further did suggest two proposals for future collaborations: first, holding joint sessions between the experts of Iran’s and Norway’s funds to share expertise, and second, Norway’s investment in Iran’s emerging economic sectors, especially in oil, gas, renewable energies, and modern technologies.

The head of the executive board of the National Development Fund emphasized that the unilateral and unjust U.S. sanctions imposed on Iran have turned the country into a "land of investment opportunities." He stated, “Joint projects ranging from $1 billion to $30 billion have been defined, and the NDF of Iran is prepared to guarantee investment returns and minimize risks for Norwegian partners.”

During the meeting, Pavel Bjørnstad, the Norwegian ambassador, expressed interest in expanding interactions, and presented Norway’s Sovereign Wealth Fund as a successful example of investment governance and management. He also highlighted Norway’s gas reserves and the potential for collaboration in the condensates trade, expressing Norwegian enthusiasm for investment activities in Iran. The ambassador added that all of Norway’s oil revenues are channeled into the Sovereign Wealth Fund, with just 3% of the fund’s annual earnings allocated to budgetary support.

This meeting marks a significant step in fostering economic cooperation between Iran and Norway and could serve as a platform for joint investments in industrial, energy, and advanced technology projects.

End of message.

A detailed report of the meeting will be published in the next news update.