Iran gov’t looking to invest in energy projects in the Philippines

iran-govt-looking-to-invest-energy-projects-in-the-philippines

Iran is looking to explore areas of investment and cooperation in the Philippines’ energy sector as part of establishing better economic relations with the country.

In a courtesy call with Finance Secretary Carlos Dominguez III, Iranian Ambassador to Manila Mohammad Tanhaei said Iranian companies are interested in investing in infrastructure, power transmission, and water purification projects in the country.

The Iranian government also expressed interest in working with the Philippines’ energy sector.

Terhran, said Tanhei, wants to strengthen the connection between Iran’s Central Bank and the Banko Sentral ng Pilipinas (BSP) to give way for Iranian investors to start doing business in the Philippines.

Aside from energy and infrastructure, Iran is also looking to import more bananas from the Philippines.

“In the (Iranian) private sector…for example regarding bananas, there are some big companies that said we still need more bananas from the Philippines,” Tanhaei said.

The ambassador has been coordinating with local business groups to explore other areas of investments, he added.

Diplomatic relations between Manila and Tehran began on January 22, 1964.

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