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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 ..
Chairman of Securities and Exchange Organization of Iran Mohammad Fetanat said on Saturday that Iran’s membership status in International Organization of Securities Commissions (IOSCO) became final.
Fetanat said that Iran’s capital market, with longstanding activities in the field of stock exchange, is to become member of the IOSCO for the first time.
He said that in recent meeting of IOSCO in Peru, Iran’s SEO was invited to offer application for membership, so that in the same meeting its request will be accepted.
Fetanat said that preparatory works have been completed to offer Iranian application to IOSCO meeting.
IOSCO is an association of organizations that regulate the world’s securities and future markets.
Iran’s media reported on Thursday that four more of the country’s banks have been reconnected to SWIFT, the global provider of secure financial messaging services.
The banks are all the foreign branches of key Iranian banks. They include the Yerevan branch of Bank Mellat, the Dushanbe branch of Tejarat Bank and the branches of Bank Melli Iran in Baku and Baghdad.
The media quoted Hamid Baeidinejad, the director general for political and international security affairs at Iran’s Foreign Ministry, as announcing that the banks can now handle a chain of overseas financial transactions.
Baeidinejad has emphasized that 26 Iranian banks have so far been reconnected to SWIFT after the removal of the economic sanctions against Iran in mid-January.
SWIFT – the Society for Worldwide Interbank Financial Telecommunication – is used by nearly every bank around the world to send payment messages that lead to the transfer of money across international borders. It provides a wide range of service including transmitting letters of credit, payments and securities transactions among 9,700 banks in 209 countries.
However, it became off limits to Iranian banks in 2012 after the implementation of the US-led sanctions against the country. Accordingly, around 30 Iranian banks were blocked from using SWIFT services, literally cutting off Iran from the global banking system.
In mid-January, the economic sanctions against Iran were lifted after a nuclear deal that the country had sealed last year with the P5+1 group of countries – the five permanent members of the Security Council plus Germany – was implemented.
A central theme of the sanctions was putting restrictions on Iran’s banking transactions with the international financial institutions through various mechanisms including closing SWIFT services to the country.
Negotiations with big credit card issuers, namely Visa and Master Card, are underway to introduce their cards to Iran’s market, the CEO of Shaparak payment and settlement network said on Wednesday.
Mohsen Qaderi, however, added that the process could take a long time.
“The success of the talks hinges on how serious and consistent we are. Currently the Central Bank of Iran is determined to hold fruitful talks with the big card issuers,” he was quoted as saying by IRNA.
Qaderi said the CBI has been busy trying to connect Iran’s banking sector to international networks and systems since six months ago but preparing the ground for the entry of credit cards takes at least a year.
“Adopting the EMV standard is one of the prerequisites for introducing credit cards to Iran’s market,” he said.
EMV (Europay, MasterCard and Visa) is a technical standard for smart payment cards and for payment terminals and automated teller machines that can accept them. These are smart cards (also called chip cards or IC cards) that store their data on integrated circuits rather than magnetic stripes.
Post-sanctions provide a good opportunity to upgrade the country’s payment systems and to “close the gap regarding the quality and range of payment services provided by Iranian firms and banks and their international counterparts”, Qaderi added.
It was in late February that Davoud Mohammad-Beigi, the head of CBI’s Payment Systems’ Department, announced the signing of a deal with Japan’s JCB. Based on the deal, banks will issue Japan’s JCB cards to Iranian customers by September.
JCB Co.—a credit card company—was established in 1961 and currently its cards are issued in 20 countries. According to the company’s website, over 89 million people in 19 countries and territories around the world are JCB cardholders.
Qaderi stated that reconnecting Iran’s banking system means initiating financial transactions between Iran and the outside world.
“In line with Iran’s economic and political reconnection with the outside world, we will host more tourists and have to provide services such as international credit cards to them,” he said.
Parliament (Majlis) Speaker Ali Larijani said Iran has a promising prospect adding that Supreme Leader’s guidelines have depicted an appropriate path for the country’s development.
Speaking at a local gathering in his northern hometown Amol, Mazandaran Province, on Tuesday, he supported naming of the new Iranian year (started 20 March) after resistance economy saying it required economic boom and increase of production through collective measures.
Larijani also welcomed settlement of the nuclear dispute after 12 years and said, ‘The achievements of the nuclear negotiations shall be safeguarded.’
‘There are certain mischievous attempts in the way of removal of sanctions, but the very nuclear issue has been settled through a legal process,’ he added.
Saying that business atmosphere in the country has improved, Larijani also stressed the role of agriculture in the economic prosperity of Iran.
A high ranking official with EFiS EDI Finance Service AG said German economic circles want speedy connection of Iranian Banks to SWIFT so that German companies can set joint investment with Iran.
Armin Gerhardt told journals that companies like Volkswagen and Siemens are interested in Iranian Banks’ connection to Society for Worldwide Interbank Financial Telecommunication (SWIFT) to facilitate and develop economic deals between Iran and Germany as soon as possible.
Gerhardt added that the Minister for Economic Affairs and Energy and Vice Chancellor of Germany Sigmar Gabriel has demanded his company to connect Iranian Banks to SWIFT with the aid of Iranian experts very soon.
EFiS EDI Finance Service AG presents services to thirty-one European and many Asian countries to transfer funds in the format of SWIFT.
Managing Director of the Central Securities Depository and Settlement Company (SAMAT) Mohammad-Reza Mohseni said on Monday that 12-fold growth was observed in foreign dealings in the past two months.
Capital Market (SANA) Website quoted Mohseni as saying that 250,000 people bought houses through the capital market last year.
He said the Joint Comprehensive Plan of Action (JCPOA) and removal of anti-Iran sanctions have raised hope for improvement of Iranian economy and in the final two months of last year, the capital market showed growth once again.
Mohseni went on to say that statistics show that foreign investors’ activity showed a remarkable growth in the last two months of last year.
The official said investors from 35 countries are active in Iranian capital market.
Iranian and Pakistani businessmen and economic activists in a joint meeting here on Friday discussed the grounds for bilateral trade and mutual investment.
Head of Iran’s Chamber of Commerce and Industry Mohsen Jalalpour and Head of Pakistan Investment Council Meftah Esmaeil were co-chairing the meeting.
Iran’s embassy economic attaché Mustafa Razavizadeh told IRNA that issues on job opportunities, investment policies as well as special economic zones were among the topics discussed.
The Pakistani side explained government’s support policies for foreign investment, including to Iranian companies.
The Iranian side also declared private sector’s readiness to invest and execute different plans, including projects on energy.
Senator Moshahed Hussain, who is following up the issue of joint economic corridor of China and Pakistan explained about the major economic plan and said that the it is not limited to China and Pakistan and that countries of the region like Iran may join the corridor to enjoy its benefits.
Iranian and Pakistani businessmen from both public and private sectors came together here on Saturday at a joint meeting attended by the Pakistani Prime Minister and the Iranian President who is on the second day of his visit to Pakistan.
Welcoming President Hassan Rouhani and Muhammad Nawaz Sharif and other participants, Federal Minister for Commerce, Khurram Dastgir Khan, said that the presence of high-ranking officials at the Iran-Pakistan Joint Business Forum provides the neighboring nations with a chance to expand ties.
‘The attendance of Iran and Pakistan leaders at the major business and economic forum will provide the two countries with a unique chance to deepen ties,’ Dastgir Khan said.
The Pakistani minister expressed hope that the removal of sanctions against Iran and opening up of its economic doors, promote the trade and economic ties of the two neighbors.
According to Dastgir Khan, Tehran and Islamabad have set a goal to boost their trade volume to five billion dollars.
‘The signing of the strategic five-year trade cooperation document between Iran and Pakistan by the leaders of the two countries yesterday is expected to leapfrog the bilateral trade and economic ties,’ he said.
Tehran and Islamabad hammered out six cooperation documents on Friday.
President Rouhani arrived in the Pakistani capital yesterday evening.
He is accompanied by a high-ranking political and economic delegation.
Rouhani was welcomed by Nawaz Sharif at the airport.
Iran’s Ambassador to Abidjan Mansour Shakibmehr in a meeting with Head of Customs House of Ivory Coast Colonel Major Issa Coulibaly underlined necessity to develop economic ties and cooperation between customs houses of the two countries.
Considering that Abidjan is the second largest port in Africa and a great deal of goods enters the country for transit and consumption, so the Customs House of the country is of special importance in this concern.
Meanwhile, Abidjan International Exhibition also opened on Thursday March 24, 2016 with a number of Iranian companies participating in the fair.
Ivory Coast has a population of 24 million and is located in western part of Africa.
Some 40 percent of population are Muslim and 33 percent Christian.
Iranian and Pakistani businessmen and economic activists in a joint meeting here on Friday discussed the grounds for bilateral trade and mutual investment.
Head of Iran’s Chamber of Commerce and Industry Mohsen Jalalpour and Head of Pakistan Investment Council Meftah Esmaeil were co-chairing the meeting.
Iran’s embassy economic attaché Mustafa Razavizadeh told IRNA that issues on job opportunities, investment policies as well as special economic zones were among the topics discussed.
The Pakistani side explained government’s support policies for foreign investment, including to Iranian companies.
The Iranian side also declared private sector’s readiness to invest and execute different plans, including projects on energy.
Senator Moshahed Hussain, who is following up the issue of joint economic corridor of China and Pakistan explained about the major economic plan and said that the it is not limited to China and Pakistan and that countries of the region like Iran may join the corridor to enjoy its benefits.
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