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Iran qualifies from many respects to be a good location for investment and doing business. it has huge potential for investing after the termination of economic sanctions, Some of the features are highlighted below:
1. Vast domestic market with a population of 80 million growing steadily 2. Young, educated and cheap labor force 3. Excellent strategic geographical position 4. The quick and easy access to neighboring markets with a population of 350 to 400 million 5. Developed and ready infrastructure 6. Cheap and abundant raw materials, energy and transportation 7. The four-season climate and climate variability in the country 8. Fiscal incentives 9. Security and political stability 10. Untapped and consumer market ..
Closure of certain Iranians’ accounts in Britain is not something new and is mainly rooted in the past, he said, noting, “As far as know, no new problem is there now.”
Closure of certain customers’ bank accounts by UK banks can be linked to financial offensives as well as money laundering, he said, noting that of course, the problem can occur for all other nationalities, he said.
Closure of Iranian nationals’ accounts in the UK banks in the past mainly pertained to the way of transfer or receiving money by them which based on European Union and UK’s regulations were considered illegal, the official said.
Money drafts which are officially deposited in individuals’ accounts in Britain are not illegal from the perspective of British banks and have no problems, but if transfer of money is made in cash or via the exchangers, it will have negative impacts on British banks, which may deal with the owners of such accounts., he said.
Meskarian further noted that blocking certain Iranian nationals’ accounts in times of sanctions are mainly rooted in a series of banking operations at source which did not comply with British banking standards.
However, he said, the issue is not confined to Iran and other countries can encounter such limitations.
Laws pertaining to financial offensives and money laundering are getting further complicated and strict as European banks have been ordered to comply with the regulation No. 4 of money laundering as of June 28, he said.
Based on the British banking regulations, specificity as to the source of
money is important and has nothing to do with nationality, he said.
International Bank Persia was established in March 2002 as the result of merger of Mellat and Tejarat banks in London.
Bank Persia was sanctioned by European Union in July, 2010, leading to cessation of its activities in London.
A new report says Iran and Russia have launched a project to construct a thermal power plant in southern part of the Islamic Republic.
According to the Russian website, Sputnik the project was launched in the southern city of Bandar Abbas during a ceremony attended by Russian Energy Minister Alexander Novak.
The construction of the 1.4 gigawatts power plant is set to be completed in the next five years. Reports say, the cost of the project is estimated at $1.12 bn. It is set to be financed mainly by the Russian side.
The two sides signed a deal to go ahead with the project back in August 2016. Based on the agreement, the Russian side is obliged to provide Iran with a loan to cover 85 percent of the cost of the project.
The remaining part will be provided by the Iranian side.
Reports say the Russian side is also set to enhance the efficiency of Ramin power plant in Khuzestan Province to 50-55 percent from the current 36 percent.
Iran says it will always be a reliable trading partner for all European countries, specifically Germany.
Mohammad-Javad Zarif, Iran’s foreign minister, told a forum on Iran’s investment opportunities in Munich that investments made by Germany companies in Iran over the past decades had already left a good impression on Iranians.
Zarif told the representatives of major Germany companies and trade unions that had participated in the forum that Europe in general and Germany in particular had always benefited from doing business with Iran, Iran’s IRNA news agency reported.
He added that Iran had always tried to live up to its commitments as per its trade deals with the Europeans, even during the years that it was under US-led sanctions.
Zarif further emphasized that the risks for investments in Iran were currently at the lowest levels compared to other countries of the region.
Elsewhere in his remarks, the Iranian foreign minister said that economic cooperation between Iran and Europe would be mutually beneficial.
He added that Europe should take up an independent approach toward the Islamic Republic and avoid any policy that would undermine its own interests to the same effect.
Zarif further hailed a recent step to establish a trade and industries office by Germany’s state of Bavaria in Tehran and said such moves could ultimately help boost relations between Iran and Germany.
On a related front, Iran’s Ambassador to Germany Ali Majedi emphasized that the current level of trade between the countries stood at around €3 billion, stressing that this could be doubled provided that Tehran and Berlin take the necessary measures to the same direction.
“Iran intends to launch a large-scale project to construct renewable energy power plants over the sixth Five-Year Development Plan to generate five thousand megawatts of energy in the country,” Chtchian said on Saturday on the sidelines of the ceremony marking the launch of three 7-megawatt solar power plants in Hamedan.
According to the energy minister, prior to the inauguration of the renewable energy power plant in Hamedan, the biggest operating plant of the kind was working with a capacity of just one megawatt.
“But today, two 7-megawatt power plants have been launched in Hamedan and the construction of three more have been started,” Chitchian said.
Speaking in a meeting with Marko Čadež on Friday, Iranian Ambassador Hossein Abdollahi pointed to holding the 15th Joint Economic Commission between the two countries soon, expressing hope for holding a meeting on the sidelines of the event to introduce Iran’s economic attractions and capacities to Serbian business people.
Čadež also expressed Serbia’s readiness to hold the meeting, saying that it is suitable to promote trade cooperation level between the two countries.
“Serbian Chamber is capable of playing a crucial role in establishing relations with Iran since almost all big merchants and businessmen and women of Serbia are members of the Chamber,” he said.
He also called for exchanging trade and economic information and holding joint meetings between Iran’s Chamber and Balkan States’ Chamber in Tehran.
Čadež supported launching direct fights between the two countries and facilitating visa issuance to both countries’ merchants as an important factor in promoting trade volume.
Iranian envoy underscored the suitable context in post-JCPOA era, inviting Serbian investors to participate in Iran’s market.
He also expressed Iran’s readiness to have cooperation with Serbia in transportation, energy, infrastructural installations and agricultural fields.
In the meeting, President of the Bacau County Board, Sorin Brasoveanu, and Head of provincial Chamber of Commerce, Douro Simovic, as well as a group of trade and economic activists from the province called for expansion of cooperation in the fields of culture and economy.
The two sides also emphasized refinery cooperation, regional development and more exchange of visits by their trade activists.
Simovic talked about capacities of the Bacau County in the fields of agriculture, food industry, construction, tourism transportation, oil, petrochemicals, wood industry and machineries.
Moayer welcomed expansion of provincial cooperation with Bacau County and said exchange of trade delegations and holding talk about oil cooperation and technical experts’ visit are appropriate grounds for development of provincial cooperation between the two countries.
Moayer said during his recent visit to Bacau, universities of the county had expressed readiness to cooperate with Iranian universities.
Bacau is one of the largest provinces of Romania, which used to have good economic relations with Iran in the past, especially in the fields of oil, culture and sports.
Iran says there is no ban on American companies working in the country’s oil industry.
Iranian Oil Minister Bijan Zanganeh told ILNA news agency that “American companies face no ban for entering our oil industry.”
He added that American companies “have not directly applied” to work in Iran’s oil industry so far.
This is the first such remark by an Iranian official after an executive order signed by the US president Donald Trump on Friday banning immigration and visa processing for Iranians alongside six other Muslim countries.
In January, Iran’s Oil Ministry published a list of 29 international companies qualified to bid for oil and gas projects following the lifting of sanctions under a landmark nuclear accord that went into effect last year.
Earlier, Deputy Oil Minister for International Affairs and Trading, Amir-Hossein Zamani-Nia expressed hope that Trump would review the current conditions to create more jobs in the US oil and gas industry and pave the way for the operation of American companies in Iran.
Hanak made the remarks during Iran-Czech Trade Conference session in Prague on Monday, attended by 130 business people.
The official noted that mutual cooperation has the potential for development in various spheres such as energy and transportation.
Head of Tehran Chamber of Commerce, Industries, Mines and Agriculture, Masoud Khansari told the audience for his part that bilateral ties date back to 90 years ago and the two countries have traditional cultural as well as political and economic relations.
Transportation, management of water resources, new energies, and food industries are among the areas of cooperation for both countries, he said, calling for joint investment which will help boost economic relations.
The JCPOA has prepared suitable conditions for foreign investment in Iran, he said.
The Iranian delegation, comprising Iranian businessmen headed by Khansari arrived in Czech Republic on Sunday to attend the Iran-Czech Trade Conference on Monday.
Following implementation of the JCPOA, the number of economic delegations arriving in Iran has increased remarkably, said Khansari, adding that Iran has hosted over 200 foreign delegations after the implementation of the nuclear deal.
The two countries’ trade value reached 59.139 million dollars in the past months, up by 25 percent compared to the figure for the corresponding period last year.
Iranian economic delegation will leave Czech Republic for Denmark later on.
During the meetings, Iranian and Czech businessmen explored avenues for promoting cooperation in the fields of industry, mines, energy, tourism, agriculture, investment, and banking.
The 30-member Iranian delegation, comprising Iranian business people, arrived in Czech Republic on Sunday to attend the Iran-Czech Joint Economic Commission session, which opened in Prague on Monday.
Head of Tehran Chamber of Commerce, Industries, Mines and Agriculture and Head of the Iranian delegation Masoud Khansari is scheduled to confer with his Czech counterpart Vladimir Dlouhi and Head of Industries Confederation Yaroslav Hanak.
Following Joint Comprehensive Plan of Action (JCPOA), the number of economic delegations arriving in Iran has increased remarkably, said Khansari.
He added that Iran has hosted over 200 foreign delegations after the implementation of the nuclear deal.
The two countries’ trade volume reached 59.139 million dollars in the past months, showing 25 percent increase compared to the figure in the corresponding period last year.
Iranian economic delegation will leave Czech Republic for Denmark later.
The law was approved by Majlis on November 15 and was endorsed by the Guardian Council one month later.
The agreement consists one sole article, one Note and nine articles.
As per the agreement, the two countries will promote economic cooperation on the basis of mutual interest and reach consensus on various cases.
The two sides deem it necessary to promote and diversify economic cooperation based on national laws and international regulations.
The two sides are also committed to prepare the ground for long-term cooperation in various arenas including promoting infrastructures, transportation, automotive industry, water management, agriculture and food industries.
The two countries will work for boosting cooperation through various strategies, including exchanging information, forging new contacts and encouraging visits between trade delegations.
To ensure the implementation of the agreement, Iran-Hungary Joint Economic Commission will be held with the two countries in attendance.
Differences in interpretation can be solved through diplomatic channels and negotiations between the two sides.
Managing Director of International Bank Persia Mohammad Reza Meskarian said on Saturday that no new problems have been created for the UK-based Iranians in the country’s banking system. Closure of certain Iranians’ accounts in Britain is not something new and is mainly rooted in the past, he said, noting,…
Project underway to construct thermal power plant in Iran’s Bandar Abbas A new report says Iran and Russia have launched a project to construct a thermal power plant in southern part of the Islamic Republic. According to the Russian website, Sputnik the project was launched in the southern city of Bandar…
Iran’s Foreign Minister Mohammad-Javad Zarif says the country will always be a reliable trading partner for all European countries, specifically Germany. Iran says it will always be a reliable trading partner for all European countries, specifically Germany. Mohammad-Javad Zarif, Iran’s foreign minister, told a forum on Iran’s investment opportunities…
Iran to invest three billion dollars on constructing renewable energy power plants, says Energy Minister Hamid Chitchian. “Iran intends to launch a large-scale project to construct renewable energy power plants over the sixth Five-Year Development Plan to generate five thousand megawatts of energy in the country,” Chtchian said on Saturday…
Iran’s ambassador to Serbia and the Chairman of Serbian Chamber of Commerce and Industry in a meeting called for reinforcing economic cooperation and increasing trade volume between Iran and Serbia. Speaking in a meeting with Marko Čadež on Friday, Iranian Ambassador Hossein Abdollahi pointed to holding the 15th Joint Economic…
A delegation from Romanian Province of Bacau met with Iran’s Ambassador to Bucharest, Hamid Moayer, on Thursday and voiced interest to promote trade with Iran. In the meeting, President of the Bacau County Board, Sorin Brasoveanu, and Head of provincial Chamber of Commerce, Douro Simovic, as well as a group…
Just define your interests, We will promote the best investment opportunities for you