The $400 Billion Wealth of Iranians Living Abroad?

The $400 billion wealth of Iranians living abroad? On March 28, 2002, the Deputy of the Center for Iranians Abroad at the Ministry of Foreign Affairs described Iranians living abroad as wealthy and expressed their desire to return to the country and invest significantly. However, IRNA, the Islamic Republic News Agency, quotes Mr. Khalil Atashi, the deputy of this center, stating that investors anywhere in the world are reluctant to invest in high-risk environments, and Iranians are no exception. Mr. Atashi mentioned that he is unaware of the exact amount of capital held by Iranians abroad, but does not consider the recently reported figure of $400 billion to be exaggerated. In the United States, Dr. Siamak Shojaei, an economist and Iranian head of the Business and Economics Department at the State University of New York, believes that such a figure does not align with economic realities and suggests that this senior official's comments are likely directed at other officials in the Islamic Republic, who have yet to agree on a unified policy to attract foreign investments. Dr. Shojaei asserts that Iranians living abroad have the capacity to invest $1 billion annually in Iran, but such actions require fundamental reforms, including guarantees of individual freedoms and respect for private property, the absence of which deters foreign investors from investing in Iran.