Law and implementation regulations concerning promotion and protection of foreign investment
After nearly 48 years, the new law on foreign investment in Iran under the name of "foreign Investment promotion and protection Act" (FIPPA) was ratified by the parliament in 2002. FIPPA replaced the "Law for the Attraction and Protection of Foreign Investment"(LAPFI) which was in effect since 1955. FIPPA's replacement of LAPFI has further enhanced the legal framework and operational environment for foreign investors in Iran.