Parliament Visa Condition for Making Business in Iran

The Iranian Parliament, which is under the control of conservatives, approved the law concerning that "The government shall receive the approval of the Parliament before concluding contracts with foreign companies."

For the law to enter into effect, it shall be approved also by the Council of Constitution Protectors controlling the compliance of laws with the Constitution and the Moslem religious laws. The law, which awaits approval, concerns closely Turkcell and Tepe-Akfen-Via (TAV) companies, which are getting prepared for investments in Iran. The contracts of Turkcell, which involves a preparation of 3.4 billion dollars to be the second GSM operator in Iran, and TAV, which bought the airport enterprise with an investment of
15 million dollars, will be considered under this law. For the validity of both contracts, the Parliament approval will be necessary. The reformist deputies maintain that the law targets in fact the above-mentioned companies.

Local dailies remark that Turkcell and TAV will be sad of the new Iranian practice. The new practice will be retroactive, going back to contract made since March 2004. Turkcell signed a contract with the Iranian Telecommunication company last week. An Iranian deputy, Ahmed Tavakkoli, who is among the ones who launched the motion, said, "Our number-one target is the contracts drawn with Turkcell and TAV."