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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 ..
Foreign investors are fooding into Iran after execution of Joint Comprehensive Plan Of Action (JCPOA), deputy Petroleum Minister and head of Iran’s National Petrochemical Company (NPC) Marzieh Shahdaei said.
She made the remarks Saturday evening in a forum on the prospect for petrochemistry in Iran which was held on the occasion of Petrochemistry Day.
She said that after the JCPOA large number of investors from France, Germany, Japan, South Korea and Northlands came to Iran to invest in petrochemical industry and ink agreements with Iranian companies.
Saying that Iran enjoys good investors, she Shahdaei said ‘We have good investors in Iran.’
The fear of high risks prevents investors from making investments with an easy mind so holdings feel obliged to support them, she added.
Shahdaei said Iran’s petrochemistry industry is half a century old and one of its advantages is its access to oil and gas feedstock and also its remarkable geographical position.
She also termed access to free waters and existence of big internal market as another advantage of Iran’s petrochemical industry.
Development of Iran’s National Iranian Petrochemical Industry is the company’s top agenda, the official added.
She noted that there are currently 20 petrochemistry factories in Mahshahr and 12 factories in Assaluyeh in south of the country with 18 others scattering across Iran.
Managing director of the National Petrochemical Company said the annual petrochemical production capacity is 61.5 million tons.
The official said the petrochemical products are value added and they are Iran’s major export.
The government is executing 7 petrochemical plans in Mahshahr, 17 plans in Assaluyeh and 26 others in other areas of country, she noted.
Shahdaei said NPC is conducting 5 petrochemical plans with Chinese finance and 10 others with the financial support of the National Development Fund of Iran (NDFI).
Increasing the nominal capacity is the petrochemical industry approach in the future, she added.
The official said absorbing foreign investors and development of petrochemical industry is another approach adopted by the NPC.
Daewoo Shipbuilding and Marine Engineering Company said it has signed an agreement with an Iranian state-run agency to cooperate in the development of a shipyard in Iran.
According to a report by Yonhap News Agency on Thursday, the South Korean company has signed the deal with the Industrial Development and Renovation Organization of Iran.
Based on the deal, Daewoo Shipbuilding will work to develop a shipyard and related facilities in Iran.
Jung Sung-leep as the CEO of Daewoo’s Shipbuilding and Marine Engineering Company signed the document with Mansour Moazami who heads the Iranian organization.
The Yonhap report also said that the Iranian side wants South Korea to finance the project and urgently seeks to have relevant technology and operation know-how to be transferred to Iranian shipbuilding companies.
Daewoo Shipbuilding said the deal will help it make inroads into Iran’s shipbuilding market, and export related equipment.
Since 1983, Daewoo Shipbuilding has secured a combined US$1.65 billion worth of orders to build a total of 38 ships from Iran’s state-run shipping firms, such as National Iranian Tanker Co.
Chairman of the Expediency Council Akbar Hashemi Rafsanjani said on Wednesday that the world business community is keen on economic cooperation and investment in the Islamic Republic of Iran.
Speaking for officials of Azad university, he said G5+1 promised to pave the path for Iran’s active presence among seven big countries of the world.
Iran says Australia has joined the list of the clients of its hexamine – a fresh sign showing that petrochemical products are already receiving a central role in the country’s non-oil exports.
Hamed Vahedi, a member of Tehran Chamber of Commerce, Industries, Mines and Agriculture, was quoted by the domestic media that talks with Australia over exports of hexamine have been finalized.
Vahedi added that is taking the required measures to send a cargo of the petrochemical product – which is used in plastics industry as well as in production of explosives, rubber, and medicine – in the near future.
The official also said that similar talks for exports of hexamine to Brazil have been finalized, but did not indicate when the first consignment would be ready for shipment.
Elsewhere in his remarks, Vahedi emphasized that Iran’s exports of petrochemicals had seen a dramatic rise after the removal of sanctions against the country in January.
Earlier, official figures showed that Iran had exported above 10 million tons of petrochemical products with a collective value of $4.3 billion – mostly to Asia – over a period of six months starting 21 March 2016.
Iran’s petrochemical exports were banned under a US-led regime of sanctions that had been imposed on the country from 2011 until 2016.
The sanctions were lifted in January after a nuclear deal that Iran had sealed with the five permanent members of the Security Council plus Germany – the so-called P5+1 group of countries – came into effect.
The deal allowed the removal of certain anti-Iran economic sanctions – including those that banned exports of petrochemicals – in return for measures by the country to restrict certain aspects of its nuclear energy activities.
Deputy Managing Director of National Iranian Oil Company (NIOC) Gholamreza Manouchehri said on Monday that some 12 Memorandums of Understanding have been signed with foreign oil executives so far and 12 other MoUs will be signed soon.
The official said that low risk and expense for production of oil and gas are two advantages of Iran for joint venture investment.
Following implementation of Joint Comprehensive Plan of Action last January, international oil companies began negotiations with Iran for partnership in joint investment projects of Iran’s oil industry.
Harsh statements of the US President-elect Donald Trump against JCPOA deal raised concerns for foreign companies about cooperation with Iran oil industry, but, it lost ground afterwards.
Minister of Petroleum Bijan Zangeneh told IRNA that election of Donald Trump to US presidency has not effect on Iranian business with foreign oil companies.
Manouchehri, who is deputy managing director of NIOC for Development and Engineering Affairs, said that NIOC undertook investment guarantee of foreign partners and that investment in upstream sector of oil and gas industry enjoys guarantee as well.
Under the current oil prices, risk for investment in Iran’s oil and gas fields are low and that expenses for oil and gas production in Iran in comparison with many other countries is very low, which it doubles motive for investment in Iran’s oil and gas industry.
The official said that NIOC signed MoU for exploration study on development of oil and gas fields with 12 international companies including Royal Dutch/Shell, Total SA of France, INPEX of Japan and Russian Gazprom.
Manouchehri predicted that 10 to 12 other MoUs will be signed with international oil and gas companies in upstream sector of oil industry soon.
Head of Iran’s National Carpet Center Hamid Karegar said on Sunday that Iran resumed carpet exports to the US in the wake of the Joint Comprehensive Plan of Action.
He made the remarks in a meeting with Gazvin Governor General Fereydoun Hemmati.
Karegar put the value of carpet exports to the US at 50 million dollars, which was zero last year.
Noting the carpet exports to China have also increased in recent years, Karegar said that over the past five year, carpet exports to the country surged to eight million dollars from 8000 dollars.
The official further noted that sanctions affected the carpet exports but in the wake of implementation of JCPOA, the exports made surge, he said.
Iran’s carpet industry dates back to 3,000 years ago and currently, one million artists are engaged in the industry, Karegar said.
Minister of Petroleum Bijan Zangeneh says Russian Lukoil Company seeks oil swap deal with Iran and talks on the issue are underway.
Zangeneh told IRNA that during recent visit of Russian Energy Minister Alexander Novak to Tehran, no talks had been held on the issue but Lukoil follows the project.
On gas swap, Zangehen said Russian Gazprom Company is also taking measures in connection with the gas swap.
The minister said during visit of the Russian delegation to Tehran, there were talks on certain oil fields and some memoranda of understanding (MoUs) were also signed in that connection.
Zangeneh added that Russian Rosneft Company is also seeking partnership and development of four oil fields, including South Azadegan field, through the Execution of Imam Khomeini’s Order (EIKO).
During visit of Russian economic and oil delegation, headed by Novak, to Tehran last week, the MoU for studying two oil fields of Changuleh and Cheshem Khosh west of Iran were signed.
Under the MoU, Russians will launch study on as many as seven Iranian oil fields.
Hence, Russian Lukoil will be engaged in study on Mansoori and Ab Teymour, Russian Zarubezhneft will study Aban and Paydar Gharb and Tatneft will study the Dehloran , while Gazprom will study Changuleh and Cheshme Khosh fields.
Among two joint projects is oil swap deal which has not come to a result and based on initial talks, 150,000 barrels per day oil is to be swapped which eventually rises up to 500,000 barrels per day.
Iran’s Aseman Airlines says it is working on a plan to renovate its fleet by procuring a series of planes from the world’s largest aerospace corporation Boeing, European aviation giant Airbus and even Russia’s Sukhoi aircraft builder.
Hossein Alaei, the head of Aseman Airline, has been quoted by the domestic media as saying that his company would soon acquire seven Airbus planes through a leasing scheme.
Alaei said talks to the same effect had already started and were being pushed forward.
Meanwhile, Reuters in a report quoted unidentified industry sources as confirming that Aseman – Iran’s third largest airline by fleet size – had agreed to lease seven Airbus jets.
The sources added that the leasing contract was not connected to a major plane purchase deal that Iran was pursuing with Airbus.
An Airbus spokesperson also confirmed to Reuters the planes would be provided to Aseman through a leasing deal, adding that the deal had been sealed through a third party.
Elsewhere in his remarks, Alaei said that his company had conducted independent talks with Boeing and Airbus to procure planes.
Talks with certain other plane providers have also been carried out, Alaei continued.
“So far, representatives of Embraer and Sukhoi have visited Iran at the invitation of Aseman Airlines and carried out trial flights,” he said. “The last such trial flight involved a Sukhoi Superjet 100 that was carried out in Tehran last week.”
Alaei further emphasized that Aseman had already added three Airbus planes and two Boeing aircraft to its fleet over the past two years.
South Korean Yusong Company is due to start construction of two wind power plants in Mil-e Nader region of Sistan-Baluchestan province, provincial official said on Thursday.
Director General of Department for absorbing and supporting investment in Sistan-Baluchestan province Mandana Zanganeh said that license and authorization have been issued and the South Korean company executives are involved in stage of carrying out the project.
Zanganeh said that three regions have been specified in the province as new energies zones for wind and solar renewable energies which are Garagheh, Mil-e Nader and Ramshar.
The official added that 11,000 hectares land has been prepared for such energies, so the domestic and foreign investors will be welcomed.
Given the needs of Afghanistan and Pakistan to electricity, Zanganeh said that Sistan-Baluchestan province enjoying the capacities to produce renewable energies may supply electricity to the two neighboring states.
Economic activists of Iran and Indonesia in Tehran on Wednesday signed five agreements for cooperation on banking, stock exchange, energy, industry and food supplies.
Iran-Indonesia Economic Meeting, co-chaired by heads of chambers of commerce convened in presence of representatives from 46 Indonesian companies and Iranian businessmen.
Members of the Indonesian delegation led by Indonesian President Joko Widodo are seeking to expand economic relations with Iran.
Iran and Indonesia have decided to enhance level of trade to dlrs two billion a year.
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