A Japanese company recently announced plans to invest in Iran in the field of chain hotel construction. The company which owns 239 hotels across the world announced its intent during a meeting with Abolfazl Kudei, caretaker of Iran Foreign Investment Organization, as reported by Iran Daily. The official added that the ground has been prepared for investment in hotel construction as a suitable sector. An Iranian deputy oil minister underlined the Japanese firms’ interest in partnering with Iran in upstream projects and said Tehran and Tokyo intend to make joint investments in the oil sector. “Based on plans, relations between Iran and Japan in the oil industry and the investment of Japanese firms will improve in the upstream sector,” deputy oil minister for international and commercial affairs Ali Majedi. “At present, the Japanese are interested in active partnership and investment in the upstream sector, especially development of oilfields, and we hope that this will be materialized through current efforts,” he said. Majedi noted that development of relations with Japan in the oil sector is on Tehran’s agenda due to the Japanese companies’ enthusiasm for cooperation in Iran’s mega projects. Source: Travel Daily