“Automakers around the world, EU companies in particular, are seeking to return to Iran to make investment in the country,” said Mohammad Reza Razavi, during a meeting with Japanese ambassador to Tehran Koji Haneda.
Representatives from trade firms affiliated to Suzuki and Nissan car companies were also present in the meeting, the Tasnim News Agency reported on Monday.
The Iranian official described Iran’s auto market as a gateway to regional markets and called on Japanese companies to take the opportunity to set up joint ventures with Iranian companies.
He said the Iranian authorities have already been working on new incentives to boost direct foreign investment in the country.
Meanwhile, the Japanese ambassador expressed the hope that Iran and Japan could enhance cooperation on auto industry.
The automobile industry is seen as Iran’s biggest non-oil sector. It accounts for nearly 10 percent of the country’s gross domestic product (GDP).
Latest data shows that Iran ranks 18th on the list of the world’s top auto manufacturers.
The 2014 Production Statistics by the International Organization of Motor Vehicle Manufacturers (OICA) indicate Iran’s auto production increased by 46.7 percent in the 12-month period.
The figures show Iranian automakers produced 1,090,846 cars and commercial vehicles last year, of which 925,975 were cars and 164,871 were vehicles.
Iran Khodro and Saipa companies account for more than 90 percent of the total domestic production in Iran.
Iran imported 102,000 cars during last Persian calendar year (ended March 20, 2015,) showing a 31% year-on-year increase.
