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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 ..
Russia is interested in investment in Iran’s oil and gas projects, Russian Energy Minister Alexander Novak said on Friday.
He made the remarks in a joint press conference with Iranian co-chairman of Iran-Russia Joint Economic Cooperation Commission Mahmoud Vaezi.
The Russian co-chairman of Iran-Russia Joint Economic Cooperation Commission said that oil and gas are major fields of cooperation between Tehran and Moscow.
He noted that Russia is waiting to see new models of oil contracts provided by the Iranian government.
Russian companies are interested in investment in Iranian gas and oil projects, the official added.
In the meantime, Vaezi, who is also minister of communications and information technology of Iran, said that Tehran is willing to expand all-out ties with Moscow.
Iranian crude oil output will reach the pre-sanctions level in the next two or three months ahead, Vaezi said answering a question.
He voiced hope for normalization of situation in the oil market by 2017.
Mahmoud Vaezi and Alexander Novak Iranian and Russian heads of the Iran-Russia Joint Economic Cooperation Commission in a meeting on Friday underlined promotion of all-out ties between the two states.
During the meeting, Vaezi, who is also minister of communications and information technology, underlined the importance of upcoming meeting between Iranian President Hassan Rouhani and Russian President Vladimir Putin in Baku this month.
Referring to the agreements, reached between Iran and Russia in the 12th Iran-Russia Joint Economic Cooperation Commission session, he said that Tehran is ready for development of all-out ties with Moscow.
Vaezi hailed the result of negotiations between Iranian and Russian officials for promotion of ties in the past two years.
Novak who is also Russia’s energy minister for his part said that there are good potential for expansion of all-out ties between the two countries.
In the first five months of 2016, the volume of trade exchanges between Iran and Russia experienced 70 percent raise and it has still capacity for more increase, the official said.
He voiced hope for finalization of free trade agreement between Iran and Eurasia Economic Union and said that Moscow is ready to help resolution of Islamic Republic banking problems.
Gazprom is keen to invest in Iran’s gas projects and help the country in production of Compressed Natural Gas (CNG) for export to the third countries, Novak noted.
The two officials discussed agreements between Iranian and Russian provinces and cooperation agreements in the fields of airspace and telecommunication.
Deputy Minister of Agricultural Jihad and Head of Iran Fisheries Organization Hassan Salehi said on Wednesday that China is going to invest three billion dollars in Iran fisheries, especially in Qeshm and Bandar Abbas in southern part of the country.
Speaking to Managing Director of Qeshm Free Trade Zone Organization on Wednesday, Salehi said China manages production of 30 to 40 million tons of fisheries in five oceans and can serve as a big capacity for development of the fisheries industry infrastructures in the south of the country.
He said that following introduction of the capacities of Qeshm Island fisheries to investors in France, Russia, Norway, Iceland, China, Thailand and South Korea, the island has been turned into world’s major fisheries industry.
He said Government of President Rouhani hss prepared a safe haven for attraction of foreign investment.
Italian Insurance Company Sace supports Iranians in all economic fields and some 14 Italian banks declared they are keen on business with Iran, managing director of Rome International Exhibition Company Pic Cinetti said on Tuesday.
Pic Cinetti made the remarks in a meeting with deputy head of Iran International Exhibitions Joint Stock Company for exhibition affairs Mohammad Javad Qanbari.
Cinetti stressed the need for preparing necessary banking infrastructure for Iranian producers’ presence in Italy.
Italy was present in Iran in the past three years and Italian companies came to Iran even before Joint Comprehensive Plan of Action (JCPOA), he said, noting, ‘We have organized Italy Specialized Exhibition in Iran each year.’
Italy is the first European country which hosted Iran’s Exclusive Exhibition and this reveals the two countries’ confidence in each other and their strategic relations.
Deputy head of Iran International Exhibitions Joint Stock Company for exhibition affairs, Mohammad Javad Qanbari, for his part, said that First Iran Exclusive Exhibition will be held in Rome from November 22-26.
Italy has participated actively in the Iranian exhibitions in the past several years of sanctions and has also organized exclusive exhibition in the country each year, he said, noting that sincere cooperation caused better relations between the two countries’ companies in times of sanctions.
This year Iran is to take part in 12 international exhibitions, six exclusive and six specialized, he said, noting that specialized exhibitions will be held in Italy, Turkey, Oman, Tanzania, Kenya and Iraq.
Italy was considered Iran’s closest trade partner in the not so distant past, as the value of their exchanges had reached 7.5 billion euro a year but the figure fell to 1.4 billion euro in years of sanctions.
Italian Prime Minister Matteo Renzi visited Tehran in mid April at the head of a 250-member political and economic delegation.
After implementation of the nuclear deal, obstacles in the way of exporting Iranian carpet to US has been removed and the US markets have been opened to Iranian carpets.
In the first quarter of the current Iranian year (beginning on March 20), 27 tons of Iranian hand-woven carpets worth $2m were exported from Isfahan province to countries like the US, Kuwait, Emirates and Qatar among which US has the biggest share of 33%.
Over 2,000 tons of hand-woven carpets worth $66m were exported from Iran which had 120% growth in weight and 39.8% in value compared to the previous year which was about 900 tons of carpets worth around $47m.
As the biggest importer of Iranian carpet, US had a 16.5-share worth $82m in 2009-2010.
Despite the competition of many countries like China, India and Pakistan to get upper hand in the carpet market, no country has been able to compete with Iranian carpets.
Joint venture investment will be made for construction of solar power plnt in Northern Khorasan province. Executive works to build the solar power plants will start in the next three and four weeks.
Managing Director of North Khorasan Electricity Distribution Company Alireza Sabori said that a contract was signed to build the largest solar power plant in North Khorasan province.
Sabori said that the capacity of solar power plant is envisaged 30 megawatts and the contract was signed by Iran’s Renewable Energy Organization.
He said that some 40 million euro will be spent to build the solar power plant.
Concerning development plan of solar power plants in the province, Sabori said that the Swiss investment company is to build up to 300 megawatts capacity solar power plants in the cities of Shirvan, Esfarayen, Boujnoord and Jajarm, which will be operational gradually.
Energy Minister Hamid Chitchian had already said that to decrease green house gases on earth and upon Iran’s commitment, development of renewable energies is on Iran’s agenda in the context of the sixth five-year economic, social and cultural development plan.
A meeting was held between Kerman businessmen and members of Rauh Welt Begriff Company (RWB) from the Netherlands on Monday.
Chairman of Kerman Chamber of Commerce, Industry, Mine and Agriculture said after expounding on potentials of the province, companies active in the field of water expressed interest to cooperate with Kerman’s companies.
Masoud Rashidi Nejad expressed hope that RWB’s presence in Iran could provide the grounds for Dutch and Kerman companies to cooperate in water field and in solving the related problems.
The C.E.O of RWB Andre Regers said that the company is active in the area of drinking and process water preparation, waste water purification and reuse, water sustainability, water evaporation and financing related projects.
On his interest in developing cooperation with Iranian companies in the fields of project management and service projects, he added that experienced staff in the field of water work in RWB.
He also said RWB had cooperation with many European companies which have signed MoUs with Iranian firms.
PSA Group unveiled a second Iranian manufacturing deal on Thursday as the French carmaker seeks to reclaim the leading position it once enjoyed in the Middle East’s biggest auto market, until U.S.-led sanctions forced its withdrawal.
The Paris-based carmaker struck a framework deal with Iranian counterpart Saipa to invest 300 million euros ($330 million) in the development and production of three Citroen models through a new joint venture.
Under the agreement, to be finalized by the end of 2016, Citroen and its Iranian partner will introduce the first of three planned new models for the French brand in 2018.
PSA, which pulled out in 2011 under U.S. pressure, now faces stiffer competition from Chinese rivals that have grabbed more business in the intervening years – as well as western peers such as Renault flocking back with newer models.
“This agreement opens up a new chapter in our history of cooperation with Saipa,” PSA Chief Executive Carlos Tavares said. “Our aim is to provide our Iranian customers with modern vehicles that meet the highest comfort, safety and technology standards.”
Iranian car registrations approached 1.6 million cars at their 2011 peak, with PSA claiming almost 30 percent of the market, before collapsing under the weight of sanctions.
The deal with Saipa, Citroen’s partner since 1966, follows a joint venture deal inked last month between Peugeot and state-owned Iran Khodro.
The 4th joint commission meeting of Iran-Pakistan border trade held on July 19-20 in Quetta, capital of Pakistani province of Balochistan led to sign MoU on border trade.
Head of Iranian Sistan and Baluchestan province organization of Industry and Mine Nader Mirshekar and the head of Quetta Customs House Jaddoun co-chaired the commission.
Cooperation for bilateral commercial facilities and necessary preparations for land, rail and aerial transportation were underlined by the MoU.
The MOU envisaged reduction of existing obstacles in mutual customs cooperation, developing activities of border markets, efforts to expand banking relations, joint investment in border area, holding exclusive exhibition in Quetta and Zahedan of Iran and formation of joint commission of Chamber of Commerce of the two neighboring provinces.
TEHRAN – Giles Dickson, the CEO of the European Wind Energy Association (EWEA), said that renowned European companies are keen to invest in Iran’s renewable energy sector, especially in wind energy sphere.
Dickson made the remarks in an exclusive interview with the Tehran Times on the sidelines of the 4th Iran Wind Energy Conference which was held in Tehran on Tuesday.
Asked about the challenges and advantages of investing in Iran’s wind energy projects, Dickson said that Iran has the potential to generate more than 30 gigawatts (GW) of electricity from wind energy.
EU members are interested and ready to seize this opportunity to transfer their knowledge and technology to Iran and of course to invest in the country’s energy sector, he stressed, recommending that Iran could facilitate the presence of European companies by providing them with straightforward contracts in which land registry, conditional lease and Power Purchase Agreements (PPAs) are clearly stated.
Mentioning the challenges facing foreign investors in Iran, Dickson said that since there are still some obstacles in banking transactions with Iran, the most important challenge facing foreign investors is to overcome such hurdles and to find resources and export credit agencies to finance their projects.
Of course, local finance agencies could help tackle such problems too, he noted.
The CEO also delivered a speech in the conference in which he briefed the audience on the history of Europe’s wind energy industry and European Wind Energy Association.
He also mentioned the investors’ expectations from Iran among which payment guarantees, the conditions for disputed settlement and long term grid development and clarity on costs were mentioned.
‘Long-term interests of investors guaranteed’
Addressing the audience, Iran’s Energy Minister Hamid Chitchian underscored the development of the country’s energy sector in recent years and said that the post-sanctions era has presented a great opportunity for both domestic and foreign investors.
He noted that after the nuclear deal the number of foreign companies interested in investment in the country’s energy sector has increased drastically.
‘Energy ministry has no financing problem’
Elsewhere in his remarks, Chitchian said that Iran has put producing 5 GW of electricity from renewable sources in the next five years on its agenda. In this regard, the ministry welcomes foreign investors and offers its all-out support for them. “The ministry doesn’t have any problem regarding financing,” he said.
He also assured that the ministry will issue payment guarantees for investors, adding that the purchase guarantee period has been extended to 20 years from the previously 5 years.
The minister also emphasized the importance of domestic production and explained that the ministry will raise guaranteed purchase price by up to 30 percent for those companies that use local technologies and equipment.
Hooshang Falahatian, the deputy energy minister; Mohammad Sadeqzadeh, the managing director of Renewable Energy Organization of Iran, known as SUNA; Jan Hylleberg, the CEO of the Danish Wind Industry Association; and Mustafa Serdar Ataseven, the president of the Turkish Wind Energy Association, also delivered speeches in the conference.
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