Norwegian envoy visits NDF board

In a meeting with the new Chairman of Board of Executive Directors of the National Development Fund (NDF) Seyyed Safdar Hosseini, Norwegian Ambassador to Iran Jens-Petter Kjemprud expressed Norway’s readiness for cooperation with NDF, , AVA Diplomatic reports. He described the fund’s great success in increasing its resources under the difficult sanctions a significant achievement for Iran. He also said expansion of ties between NDF and the Government Pension Fund of Norway can lead to further cooperation between the two countries’ firms and governments.

Elsewhere in his remarks, he said the recent election in Norway increased pressure by political groups on sovereign wealth funds, providing the ground for political exploitation by the promise of spending more of the funds’ resources inside the country to win more votes. He used the example to explain why he considers the management of sovereign wealth funds difficult.

The Norwegian envoy also said expectation management if very important if the sanctions are eased. “The problems will not be resolved overnight if the sanctions are lifted,” he added.