The story
The National Development Fund of Iran (NDFI) aims to turn some of the country's revenue earned by selling oil, gas, gas condensate and oil products to durable wealth, productivity, economic incentive and capital. The NDFI also aims to preserve the share of oil and gas resources and products for future.
The Articles of Association of the National Development Fund of Iran, under the directives of the Leader of the Islamic Revolution and ratification of the Parliament, has been incorporated in the Fifth Development Plan Law of the Islamic Republic of Iran. According to the Articles of Association, the Managing Board is the executive pillar of the NDFI whose main responsibility is to conclude agency agreements with the banks. The NDFI has, so far, concluded several agency agreements with different banks for supporting investment in the private Sector.
The National Development Fund of Iran (NDFI) was established based on Article 84 of the Fifth Economic, Social and Cultural Development Plan of the Islamic Republic of Iran. The NDFI aims to turn some of the country's petrodollars to durable wealth, productivity, economic incentive and capital and to preserve the share of oil and gas resources and products for future generations. The NDFI strategies to materialize such goals include:
To spotlight outcomes of spatial plans in the country for a regional sustainable and balanced development while distributing the resources of the NDFI.
To make plans for reaching the goals of the 2025 Vision plan and the country's Comprehensive Plan for Scientific Development.
To pay due attention and support to the private sector and pay facilities in foreign currencies in order to develop economic infrastructure and reduce the role of government.
To pay special attention to investment opportunities in deprived areas while incorporating short-term and long-time planning.
To give priority to providing financial resources for energy consumption optimization plans, proposals to develop and reconstruct current capacities (such as buying equipment and machineries), business plans in convert industries, complementary agriculture, public and rail transport, joint foreign investment (subject to ratification within the framework of the 2002 Law to Encourage and Support Foreign Investors), proposals to export Iranian goods and services to target markets in the form of purchase credit, proposals to export indigenous technical-engineering services in the form of sell credit, providing facilities for buyers of Iran-made goods and services in foreign export target markets, proposals of technical-engineering services export by Iranian companies which win international tenders.
Read the full text
To invest and have greater participation in foreign monetary and financial markets.
To make decisions and adopt measures to ensure the return of the NDFI's resources and its preservation for future generations.
NDFI says it complies with the Santiago Principles; thus coordinates and aligns its actions with the macroeconomic and monetary policy of the Iranian government.
From Wikipedia’s article on National Development Fund of Iran, shared under CC BY-SA 4.0.4