Several theories have been formulated to explain the positive effects of foreign investment (including providing financial resources to build productive capacities, export development, technology transfer, managerial skills and organizational capabilities), as well as its negative effects (including undue exploitation of natural resources and markets in the host country, limited space for the activity of domestic firms, non-formation of technical spillovers, as well as forward and backward linkages with the local economy, etc.). But the general outcome of these theories is that foreign investment is a means the effects of which differs depending on the kind of investment, the strategy of the investors, the entry conditions of the capital, the laws and regulations of the countries, and the sectors and fields of activity in which the investment is made. Therefore, the all countries are seeking to attract and direct foreign investment in such areas of their economy and industry, so as to reap its direct (financing capital), and potential benefits (transfer of technological assets, management skills, and organizational capabilities). For this reason, many countries have established special agencies to attract foreign investment, adopted certain laws and regulations to protect foreign investment, and designed and employed incentive programmes to attract and manage foreign investment. In this context, one of the most important policies is to encourage the establishment of joint export companies. This paper, in addition to presenting a conceptual framework for encouraging export joint ventures, has proposed an incentive policy package in this regard.