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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 ..
Iran says it has signed a deal with Germany to cooperate over production of 50 diesel locomotives which will be used in the Iranian rail network.
Iran’s Minister of Roads and Urban Development Abbas Akhoundi said the deal was signed during a visit to Tehran by Germany’s Minister of Transport and Digital Infrastructure, Alexander Dobrindt.
Akhoundi was quoted as saying by IRNA news agency that the locomotives will be jointly produced by Germany’s engineering giant Siemens and Iran Power Projects Management Company (MAPNA).
He added that Iran currently has 165 diesel locomotives, adding that the country’s railway system needs an extra 150 locomotives.
Elsewhere in his remarks, Akhoundi said that Iran was negotiating with Germany over investing in Tabriz, Ahvaz and Chabahar airports.
He added that the two countries would soon set up working groups to purse this.
The Iranian minister further emphasized that Iran welcomed the participation of German companies in a key project to construct Iranshahr Terminal in Imam Khomeini International Airport with a passenger capacity of 25 million per year.
IRNA also quoted Dobrindt as saying that Berlin was interested in the expansion of its cooperation with Iran in the areas of transportation.
He added that several German airports including Munich and Frankfurt were particularly interested in projects to develop airports in Iran.
The remarks by Akhoundi and Dobrindt followed the signing of a memorandum of understanding between Iran and Germany to promote cooperation in various areas of the transportation industry.
Dobrindt had paid a visit to Iran in October during which he signed six basic agreements with Akhoundi in the area of transportation.
Ahmadipour said Iran welcomes the investment considering positive atmosphere available after the JCPOA.
She made the remark in a meeting with Albanian Foreign Minister Ditmir Bushati here on Sunday.
She hoped that Iran and Albania will resume ties after two decades they were brought to a standstill and said to deepen bilateral ties and before deepening political relations, promotion of cultural relations is needed.
Bushati said for his part that his visit to Iran indicates Albania’s intention to expand ties with Iran in all fields.
Considering existing capacities of the two countries, cultural ties between the two sides will grow rapidly, he added.
Gholamreza Panahi told IRNA on Saturday that many Iranian banks have resumed brokerage ties with foreign banks and they perform various affairs like opening letters of credit (LC) and bank drafts.
Regarding the reason for which big world banks haven’t established relations with Iranian banks yet, he said that having cooperation with big banks and firms is important in financing projects, but many banks can be used for brokerage ties
He expounded on the obstacles on the way of having relations with foreign banks, saying it is obvious that firms should identify each other which could be achieved through compilation of financial statements in conformity with international standards.
‘Due to being far away from international banking system for 10 years, Iranian banking standards have not become updated,’ he said.
Panahi referred to International Financial Reporting Standards (IFRS), the Basel Committee on Banking Supervision (BCBS) and international conventions in fighting corruption, money laundering and terrorism financing as international regulations necessary for establishing international ties.
‘Suspending obstacles on Iran which happened in the wake of approving laws on fighting money laundering and financing terrorism has been effective in improving international relations,’ he added.
The Financial Action Task Force (FATF) issued a statement on June 24, 2016, suspending Iran in the blacklist 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.
‘Iran has also established brokerage ties with some 25 banks and started 100 SWIFT (Society for Worldwide Interbank Financial Telecommunication) relations,’ Panahi said.
Speaking to IRNA on Friday, Afkham said, ‘After removal of sanctions, we are seeking to prepare the ground for development of export within framework of the policies of the Economy of Resistance.’
The Iran-Malaysia Joint Commission session is expected to be held in the near future, the official added.
She underlined encouraging investment in the post-sanctions era.
The official referred to a recent one-day Seminar on Trade with Iran and Its Opportunities for the Malaysian Companies and noted that the framework for cooperation between the two countries will be discussed in the upcoming Joint Economic Cooperation Commission session.
Malaysian investors are interested in investment in Iran’s oil and gas projects, she added.
Speaking in a ceremony held here on the Thursday to mark the landing of Iran’s first purchased aircraft from Airbus in post-sanctions era, the Iran Air Managing Director Farhad Parvaresh said that his company purchased 2 airplanes from Airbus Company in 1994.
Parvaresh referred to landing of the aircraft as a positive outcome of Iran’s nuclear deal with world powers which came the result of collective efforts.
‘Delivery of the new aircraft will breathe a new life into Iranian air fleet and it will prepare the grounds for us to take the most advantage of Iran Air fleet,’ he added.
Iran’s first purchased Airbus ‘A321’ in the post-sanction era landed in the capital’s Mehrabad International Airport on Thursday morning.
Minister of Road and Urban Development Abbas Akhundi and his deputies, head of the Atomic Energy Organization of Iran (AEOI) Ali Akbar Salehi and a number of parliament members took part in the event.
This is the first 190-Airbus Iran receives according to a contract which had been signed by President Hassan Rouhani during his visit to Paris last year. Upon finalization of the contract, Iran Air is to purchase 100 planes from Airbus, the first of which arrived in Iran today.
‘The contract for purchase of the planes was signed by Iran Air and Airbus on the OFAC license and international law and ‘we try to deliver the purchased planes to Iran Air based on the contract; this year, a number of the planes will be delivered to the company,’ the Managing Director of Airbus Company Fabrice Brégier said.
In addition to buying aircraft, the contract also includes items like training courses for pilots, repair and maintenance, air navigation services development, airport operation, exchange of technology and the coordinating regulations for Iran Air.
All the aircraft have been purchased under a hire purchase contract, and Iran Air has supplied 85% of financial resources through foreign finance and 15% through domestic resources as well as the National Development Fund facilities by Bank of Industry and Mine.
The seminar organized by the Malaysian Federation of Producers was attended by Iran’s ambassador to the country Marzieh Afkham and a number of Malaysian banking and financial officials.
Head of the International Trade Committee of Malaysian Federation of Producers John Lee told the seminar that Iran with a population of 80 million as well as an organized economy is the second biggest economy in the Middle East and North Africa.
Referring to Iran’s capacities for exports and imports, he said that Iran’ economic growth is accelerating following removal of sanctions.
Lee described post sanctions era as a golden period for trade with Iran and said that he would visit Iran to find a commercial partner in the country.
Petrochemicals, oil and gas, healthcare and pharmaceuticals are among the areas with numerous opportunities for investment and cooperation with Iran, he said.
Iran-Malaysia trade in 2015 amounted to 532 million dollars, but they both intend to raise the figure to one billion dollars.
Atefifar told IRNA, ‘Thanks to measures adopted and the banking activities, good openings have been observed internationally, including forex activities of banks. Since start of this year (March 20), 384 LCs, worth $193 billion, and 3,553 drafts, worth more than one billion dollars, have opened in Day Bank.’
He said such a huge volume of forex activities marks an important achievement for Day Bank after elimination of harsh sanctions. ‘The noteworthy point is that up to so far, forex accounts have opened in 25 European and Asian banks and brokerage ties have been established with 75 banks. We are cooperating with 12 banks that fulfill all their forex activities through Day Bank.’
The Governor said the latest statistics of the Central Bank of Iran (CBI) show that about 6.7 percent of all Iran’s forex activities are made through Day Bank.
The banker said as the CBI and Iranian banks are re-linked with SWIFT, transfer of resources between the legal and real foreign and Iranian entities is allowed and the partnership and relations between joint banking agencies of Iranian and foreign banks expanded.
Now, an Iranian pilot, co-pilot and crew are in France to fly the Airbus A321 to the country, Parvaresh told IRNA here on Sunday.
The preliminary contract between Iran and France’s Airbus for purchase of 100 passenger planes was signed during the historic visit of the Iranian President Hassan Rouhani to Paris in January.
A group of officials and experts of the Civil Aviation Organization of Islamic Republic of Iran, who had been sent to France to take part in the training courses, will come back home by the Airbus A321, Parvaresh noted.
Talks on implementation of the agreement will be held within the next month between Iran’s Mahan Air and the Australian side, Vahaji told IRNA on Saturday.
The launch of direct flights between Iran and Australia will lead to development in their bilateral relations, the diplomat noted.
About the July 2015 deal known as the Joint Comprehensive Plan of Action (JCPOA) between Iran and world powers, the diplomat stressed that the travel of the Australian nationals to Iran has grown after the deal.
Nematzadeh told Iran’s Ambassador to Turkey Mohammad-Ebrahim Taherianfard and the staff of the economic section of Iranian Embassy in Ankara that the investment had been made in 170 industrial and mineral projects and 80 of them have thus far been successfully commissioned.
He added that more than $5.5 billion out of the foreign investment had been in the past one year and after the Joint Comprehensive Plan of Action (JCPOA).
The official said Turkey, European and CIS states and even Arab countries are among investors in the Iranian industry sector.
He said foreign investment has been speeded up following economic stabilization of the country and more illuminating economic horizons of the country.
Nematzadeh arrived in Ankara at the head of a delegation to hold talks on expansion of Iran-Turkey economic and commercial relations.
At the airport , the minister was welcomed by Iran’s Ambassador to Turkey Mohammad-Ebrahim Taherianfard and officials of Turkish ministry of economy.
Nematzadeh is to meet and confer with Turkish Minister of Economy and Turkish head of Tehran-Ankara Joint Economic Cooperation Commission Nihat Zeybekçi on the standards that Turkey has devised for certain Iranian goods exported to the country. They are also to discuss the list of goods subject to Iran-Turkey preferential trade agreement.
Iran has considered tariff discount for 125 Turkish exported items and Turkey in turn considered tariff discount for 140 Iranian goods exported to Turkey.
In recent talks between the two sides, there were discussions on addition of about 40 items to the list by the either party.
The talks between Nematzadeh and Zeybekçi are expected to focus on the issue.
Italy’s Carlo Maresca on Saturday signed a $100-million contract with the Iranian organization to construct a solar power plant near Garmsar Special Economic Zone in the central province of Semnan. As per the deal, a 100-megawatt will be built on a 2,000-hectare area within 15 months, IDRO’s official website reported….
Iran says credit line with Russia to boost trade Iran’s Minister of Economy and Financial Affairs Masoud Karbasian. Iran says it expects a recent agreement with Russia over the creation of a credit line to fund Iranian projects to help promote trade between the two countries. Iran’s Minister of Economy…
Iran huge rise in imports from Europe Iran has reported a major rise in imports from several key European countries over a period of nine months starting 21 March 2017. As Iran is celebrating the second anniversary of the removal of sanctions, figures show the country’s imports have been picking…
Iran opens third DRI steel mill using domestic technology Neyriz Steel Complex at the time of commissioning. Iran has brought online its third steel plant which uses domestic technology for production of direct reduced iron (DRI) or sponge iron. The hot commissioning of Neyriz Steel Complex in the southern Fars…
With better risk rating, Iran now stands next to Brazil The Organization for Economic Cooperation and Development (OECD) has improved Iran’s risk rating by one notch. Iran’s media are reporting that the country’s risk classification has improved by one notch in a vital sign of improved investment environment. The English-language…
PSA invites Iran Khodro to produce Peugeots in Algeria Iran Khodro logo French carmaker PSA Group has invited Iran Khodro (IKCO) to set up a production line for Peugeot cars in Algeria, the Islamic Republic News Agency (IRNA) reports. PSA executive vice-president for purchasing, Yannick Bézard, on Tuesday visited Tehran-based…
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