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Why should I invest in Iran
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 ..
The Commercial Counselor at the Austrian Embassy in Tehran Georg Weingartner says Austrian companies are eager to invest and have economic activity in Iran and Kish Island.
Weingartner, who is on a visit to Kish Island along with a delegation from the Commercial Section of Austrian Embassy, told the investment director of Kish Free Trade Zone Organization Hamid-Reza Shirzad that Kish Island is the most distinguished hub of investment of Iran in international level.
He said Kish Island is an exceptional tourist resort and many Austrian companies are interested to get aware of the capacities of the region and different grounds for investment in the Island.
He noted that visit of Austrian president to Iran in 2015 and presence of the representative offices of more than 200 Austrian companies in Iran encourage Austrian investors to be present in Iran’s extensive market.
‘We are interested in investment in Kish Island in hospital equipment, petrochemical sector, industrial machinery and tourism,’ he added.
He hoped that following sanctions lift, problems with banking transfer will be removed completely and conditions will be prepared for banking activities in Iranian free zones, especially Kish Island.
Halal tourism has provided a good opportunity for attraction of foreign investment, he added.
Finland’s Minister of Transport and Communications has expressed her country’s readiness to promote cooperation with the Islamic Republic of Iran in communications fields and information exchanges.
Anne Berner during a meeting on Tuesday with Iranian Communications Minister Mahmoud Vaezi said that Finland was ready to establish bilateral ties with Iran in all areas of communications.
‘We are ready to promote cooperation with Iran in all key areas of communications, including electronic government and network security,’ Berner said.
The Finish minister also said that Helsinki is ready to help Iran develop its digital services in healthcare, transportation and education sectors and at the same time assist the country in the fields of information exchanges and mobile services.
Vaezi on his part expressed Iran’s readiness for developing cooperation between the two nations in the areas of communications and information technology and urged enhancement of cooperation between the two country’s private sectors.
Iran is eager to seize the chance and cooperate with Finland in the communications areas, the Iranian minister said.
TEHRAN- Trade Promotion Organization of Iran will dispatch a trade-marketing delegation to South Africa on September 12 to discuss opportunities for bilateral economic cooperation.
According to the portal of the organization, members of the delegation include representatives of economic enterprises and companies active in the fields of exports of technical and engineering services, plastic and plastic products, petrochemicals, food production, drugs and medical equipment, construction material, automotive, carpet, household appliances and health tourism.
During the four-day visit, the Iranian delegation is scheduled to meet South African economic and trade officials, hold meetings with Iran’s ambassador as well as commercial attaché in the African country, hold trade meetings with members of the Johannesburg Chamber of Commerce, hold B2B match meetings with South African businessmen, visit industrial and production centers, markets, and tourism sights of the African country.
Russian banks are striving to be the first in line after the partial lifting of sanctions against Iran, Russian newspaper Izvestiya reported on Wednesday.
In January the U.S. and EU announced the lifting of all economic and financial sanctions against the Islamic Republic associated with its nuclear program, enabling Tehran to access previously frozen assets, use international financial messaging services such as SWIFT, and sell oil and other raw materials to EU countries.
Experts in the banking sector told the newspaper that while Western banks are waiting for guidance from the authorities on their prospects for cooperation with Iran, Russian banks are keen to get a head start.
Russian banks do not currently have a presence in Iran, while a single Iranian bank operates in Russia, called “Mir Business Bank.” The bank is a subsidiary of Bank Melli Iran and 70 percent of its customers import and export goods such as grain, timber and food products between Russia and Iran.
“It is obvious that the amount of trade between Russia and Iran is going to increase. It would be expedient to find a niche while there isn’t stiff competition from other international organizations,” Aksanov explained.
“Our banks can start with servicing bilateral contracts with Iran, similar to Mir Business Bank. Then the volume of banking services can be extended, and if there is demand for them then smaller banks can enter the market,” said Tamara Kasyanova of consulting firm 2K. A source in Russia’s central bank told Izvestiya that it recently held talks with its Iranian counterpart to discuss cooperation in the financial sphere.
In November last year Russia’s trade representative in Iran Andrey Lugansky told Rossiyskaya Gazeta that Russia and Iran are discussing the creation of a joint clearing bank to enable the two countries to increase their trade. The volume of trade between the two countries was $5 billion in 2015, much of which took place through intermediaries such as Cyprus and the UAE, he said.
By importing from countries to which Iran exports oil, such as China, South Korea, India and Japan, Russia’s exporters should able to sell the technology Iran needs using those currencies rather than the dollar and euro, Lugansky explained. While Russian firms are keen to increase trade with Iran, their Western counterparts still appear fearful of repercussions from the authorities.
In March Iran’s Supreme Leader Ayatollah Ali Khamenei told Iranian television that U.S. authorities are dragging their feet on lifting sanctions, and that Iran’s international financial transactions face problems because banks “fear the Americans.”
While they have lifted some sanctions following the July 2015 nuclear agreement between Tehran and the 5+1 countries, the U.S. and EU continue to impose some sanctions against Iran.
In July the U.S. House of Representatives blocked a deal between Boeing and Iran Air to supply 118 passenger planes to replace Iran’s ageing fleet. The move also prevents a similar deal between Iran Air and French manufacturer Airbus, since its planes use some parts from Boeing.
Visiting President of French National Assembly Claude Bartolone called for improvement of banking cooperation with Iran in a meeting with Central Bank of Iran (CBI) Chief Valiollah Seif on Wednesday.
Bartolone said France supports Iran to execute the Financial Action Task Force (FATF).
FATF is an intergovernmental organization founded in 1989 on the initiative of the G7 to develop policies to combat money laundering. In 2001 the purpose expanded to act on terrorism financing. It monitors countries’ progress in implementing the FATF Recommendations by ‘peer reviews’ (‘mutual evaluations’) of member countries. The FATF Secretariat is housed at the headquarters of the Organisation for Economic Co-operation and Development (OECD) in Paris.
Paris is to help Tehran technically for implementation of the FATF by providing Iran with France experiences to this end, Bartolone stressed.
He also called for the boost of economic ties between the two countries, adding that Paris is committed to help complete implementation of the Joint Comprehensive Plan of Action signed between Iran and the world six major powers (US, Russia, France, Britain and China plus Germany) in 2015 to end a more than a decade-long nuclear dispute.
Meanwhile, the head of the Central Bank of Iran called for removal of obstacles on the way of improvement of cooperation between Iranian banks with their French counterparts as well as other major banks.
The Italian, Austrian and German banks have developed cooperation with Iran in the post-sanctions era but France banking system is very cautious about improving bilateral relations with its Iranian counterparts, Seif added.
France can help resolve the problem of obstacles on the way of Iran’s banking relations with other countries regarding Paris significant place among the European states, Seif stressed.
The FATF issued a statement on June 24, 2016, suspending Iran in the list of its uncooperative countries. This came as the result of numerous actions taken by the Iranian government, parliament and judiciary in the past few years like adopting laws against financing terrorism and other actions which legally bounded Iran to take action to eliminate shortcomings of the body’s existing anti-money laundering policies and its decision to seek assistance with implementation.
In its plenary meeting in South Korea, the body took into account Iran’s implementation of an anti-money laundering law and its membership at the Eurasian Group, a FATF-style regional body.
According to the FATF, Iran will remain on the body’s blacklist until the full implementation is complete. Moreover, if it fails to demonstrate “sufficient progress” at the end of the yearlong suspension, the restrictions will be re-imposed.
FATF is under the influence of the US.
Minister of Industry, Mine and Trade Mohammad Reza Ne’matzadeh said on Tuesday that the contracts signed with German companies in the sector of automobile will be carried out soon.
Ne’matzadeh made the remarks in meeting with Deputy Prime Minister and Minister of Economy of Bavaria State in Germany Ilse Aigner.
Industry minister underlined Iran’s interest to develop cooperation with German government as well as Bavaria State and said that bilateral economic and industrial cooperation by new signed agreements and recognition of both sides capacities are expanding, but banking relations is not normal yet.
He underlined necessity for execution of bilateral agreements in the sector of export insurance, saying that following implementation of JCPOA the two countries have increased their joint venture projects.
Ms. Ilse Aigner said that she came back to Iran after seven months with a big delegation indicating efforts of both sides for confidence building and expanding economic cooperation.
She welcomed Ne’matzadeh proposal for using capacities of small industrial and productive units.
She hoped that banking obstacles could be removed soon.
Aigner announced opening of Bavaria economy and industry bureau in Tehran, saying that inauguration of this office is for long term investment planning.
She said that the German delegation held negotiations with Kerman Governor General and signed cooperation agreement with the province.
‘A group of Bavaria banks representatives are accompanying her.’
Aigner said that the German delegation held negotiations with Parsian, Sina and the Middle East Banks in Tehran for opening their branches in Bavaria.
Three Iranian banks have told Bavaria’s economy minister that they plan to open branches in Munich to help stimulate more business ties with German firms, the Muenchner Merkur newspaper reported on Sunday.
Middle East Bank, Parsian Bank and Sina Bank have received approval from Iran’s central bank to set up branches overseas, the minister, Ilse Aigner, told the newspaper.
Aigner, a member of the conservative Christian Social Union (CSU), spoke with the newspaper from Tehran during her second visit to the Iranian capital within a year.
“Business ties between Bavarian companies and Iran often fail today because of barriers in the payment process,” Aigner told the newspaper in an interview published on Monday.
“That is why having branches of Iranian banks in Munich is particularly important for our businesses. Especially our small- to medium-sized firms have enormous export prospects to Iran that they will be able to utilize more easily in the future.”
Many European companies complain that although U.S. sanctions against Iran over its nuclear program were lifted in January, they still cannot secure financing from Western banks because they are worried about further sanctions still in effect in the United States.
Under the nuclear sanctions, Iranian companies used methods such as transfers of funds through money changers to conduct trade, which was expensive, time-consuming and sometimes unreliable.
Aigner told the paper that the Iranian banks would now get professional help for setting up satellite offices in Munich and navigating the approval process.
She cited strong interest in exporting items to Iran from the German engineering, automotive, aerospace, environmental technology, pharmaceutical and medical technology sectors.
Iranian Ambassador to France Ali Ahani underlined that a good conditions have been provided for investment and production in Iran and exporting the goods abroad.
“There is currently a suitable situation in Iran for the French companies to invest and produce in Iran for the consumption of domestic market and also for export to other countries,” Ahani said, addressing a roundtable titled ‘Iran, Suitable Time for Cooperation Now.
The Iranian ambassador pointed to President Hassan Rouhani’s visit to France in late January 2016 and signing of 35 cooperation pacts as a new chapter in the two countries’ relations.
Ahani also pointed to the recent visit of French environment minister to Tehran, and said, “Iran has a population of 80 million people and its market will give France access to the regional markets, trained workforce and presence of energy reserves, mines and raw material will attract the French companies’ attention to Iran’s economic priorities.”
The Iranian ambassador said that the two countries can cooperate in the field of oil and gas, nuclear energy, renewable energies, heavy and light industries, auto industry, agriculture and fishery, pharmaceuticals, medical equipment, air transport, rail transport, road transport, sea transport, tourism, hotel industry, environment, water management and knowledge-based activities.
The Vice Governor of Central Bank of Iran (CBI) Gholamali Kamyab and Vice Governor of Central Bank of Russian Federation Dmitry Skoblekin called for boost of banking relations.
Iranian and Russian top banking officials met in Tehran on Thursday.
Ground is prepared for promotion of banking ties between Iran and Russia, Kamyab said.
He noted that facilitation of banking cooperation will ease relations between Iran and Russia in other fields, including information technology, electricity, petro-chemistry and peaceful energies.
Due to removal of sanctions, Iranian banks now have exchanges with foreign banks in various currencies except dollar, the official added.
He noted that Iranian banks’ desire for cooperation with foreign banks increased in the post-sanctions era.
Kamyab urged connection of swift between the two countries in order to facilitate transfer of money.
Meanwhile, Skoblekin called for development of banking relations between Iranian and Russian banks.
Russian federation central bank did his best to facilitate banking, trade and economic cooperation with Iran after removal of Iran’s sanctions, he added.
The official stressed the importance of connection of Iranian and Russian banks for transfer of money.
Iran and Russia on Thursday signed a Memorandum of Understanding to upgrade bilateral banking and financial cooperation.
Kamyab and Skoblekin signed the cooperation document on the sidelines of a meeting between Iran-Russia banking and financial taskforce held in Tehran on Thursday.
The cooperation document was issued in the fields of fighting money laundering and combating financial support of terrorism.
The Memorandum of Understanding will also facilitate execution of Bilateral Currency Swap Agreements reached between the two countries.
South African Ambassador to Tehran William Max Whitehead said on Wednesday that lifting the sanctions helped Iran and South African to set up a joint bank.
He made the remarks in meeting with head and members of Khorramabad Chamber of Commerce, Industry, Mine and Agriculture.
He said that establishment of two direct weekly flights between Tehran and South Africa by Mahan Airline is also on the agenda.
Whitehead said that South Africa buys its needed stones from Italy at high price.
He said that his country needs 500,000 tons honey annually, which purchased it from New Zealand and in case of readiness of Lorestan province it would be provided from Iran.
Nowadays, the developing countries need each other more than they need Europe, the South African ambassador said.
Whitehead on the head of delegation arrived in Khorramabad on Tuesday afternoon and visited a number of industrial and agricultural units.
In the past two years, envoys and trade delegations from different countries like Indonesia, Afghanistan, Turkey, Austria, Russia, Sweden, Switzerland and Finland have visited the province.
Iran and South Africa are to increase their trade to eight billion dollars a year until the year 2020.
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