TEHRAN – In an annual gathering of diplomats on Tuesday, some cabinet members, including the economy minister and the central bank chief, asked ambassadors to brief foreigners about investment opportunities in Iran.

The nuclear deal between Iran and great powers, which lifts economic and financial sanctions against the Islamic Republic, has provided an opportunity for the entry of foreign capital into Iran.

Finance and Economic Affairs Minister Ali Tayyebnia said in order to achieve favorable economic growth there is a need for foreign investment and “our expectation from ambassadors is that they introduce the country’s investment opportunities to foreign sides.”

The minister said with the lifting of sanctions Iran’s oil exports will increase and frozen assets held in foreign banks will be released and these revenues will provide new opportunities to achieve “high economic growth”.

Cooperative, Labor, and Social Welfare Minister Ali Rabiei also said Iranian diplomats should “find the openings for the entry of foreign capital into the country.”

Rabiei also called for conformity in policies at home and abroad to get rid of the current economic situation in the light of the opportunity created with the clinching of the nuclear deal.

“To get out of the country’s difficult (economic) condition… we should use this opportunity in the best way.”

Central Banker Valiollah Seif, for his part, said sanctions have caused Iran to lag behind the world in terms of new banking systems and this should be compensated with the lifting of sanctions.

He said the international banking system has a good experience of cooperation with Iran which, in effect, can help remedy the situation.

Iran “welcomes the opening of foreign international banks” in the country, the banker noted.