Foreign investment for the production of goods and services specifically for export purposes other than oil, shall be exempted from the aforementioned ratios.
note. the law for the ownership of immovable properties by foreign nationals ratified on June 6, 1921 shall remain enforceable ownership of land of any type and at any scale in the name of foreign investors is not permissible within the framework of this law.
foreign investments admitted in accordance with provisions of this law shall enjoy the incentives and protections available under this law. such investments may be admitted under the following two categories:
a. foreign direct investment in areas where the activity of private sector is permissible;
b. foreign investments in all sectors within the framework of "civil participation", "buy-back" and "build-operate-transfer" arrangements where the return of capital and profits accrued is solely emanated from the economic performance of the r project in which the investment is made, and such return of capital and profit shall not be dependent upon a guarantee by the government, state-owned companies or banks.
note 1: so long as the foreign investment subject matter of "build-operate-transfer" arrangements referred to in para (b) of this article, and its incurred profits thereon are not amortized, the exercise of ownership right by the foreign investor over the unamortized capital in respect of the recipient economic entity is permissible.
note 2: with respect to investments subject matter of para (b) of this article, if, as a result of promulgation of laws or government resolutions, the execution of approved financial agreements within the framework of this law is prohibited or : interrupted, the accrued losses, to a maximum of due installments shall be committed and paid by the government. the scope of acceptable commitments shall be approved, within the framework of this law, by the council of ministers.
the investment by a foreign government or foreign governments in the Islamic Republic of Iran shall have to be approved by the Islamic consultative assembly on a case by case basis. the investment by foreign state-owned companies is considered to be private.