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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 ..
Speaking to the media on Thursday, Totonchi said Iran is to build an auto manufacturing plant in al-Duqm economic zone of Oman.
Simultaneously with holding a large exhibition in Oman from January 23-27, Iran and Oman will take steps forward to boost relations, the official added.
He referred to 35 percent increase in volume of trade between Iran and Oman in 2016 and said the value of trade exchange between Tehran and Muscat has reached 1.35 billion dollars this year.
Some 9o Iranian companies active in various fields, including food and auto industries, will present their products in Iran’s exhibition in Oman.
Iranian Minister of Industries, Mines and Trade, Mohammad-Reza Nematzadeh, is expected to attend Iran exhibition in Oman.
Meanwhile, Chairman of the Iran-Oman Joint Chamber of Commerce, Mohsen Zarrabi, has predicted increase in Iran’s export to Oman to the value of 600 million dollars by the end of this Iranian calendar year (ended March 20).
Launch of direct shipping line between Iran and Oman has facilitated increase of Iran’s exports to Oman, the official added.
He said Iran and Oman are expected to invest in Chabahar Free Trade Zone on joint venture.
The Omani Sultanate banks will provide half percent of finance needed for the projects, Zarrabi added.
In a meeting with managing director of Qeshm Free Zone Organization Hamid Reza Momeni, he added that while companies such as Total, Citroen, Peugeot and Renault are currently engaged in the Iranian greater projects, the country is resolved to further strengthen commercial relations with Tehran.
He further noted that French companies are interested to participate in joint construction and developmental projects. Among them is Vinci which is currently in talks on Mashhad and Isfahan airports project.
It is also ready for cooperation in the projects in Qeshm Island, he said, noting that the island boasts of numerous capacities in the fields of industry, energy and fishing. Not to mention that it has suitable potentials for joint investment with foreign companies due to its location in free zone.
Momeni, for his part, commented on the capacities and projects currently being implemented and voiced the island’s willingness for undertaking developmental projects and investments with French private sector.
Speaking to IRNA, Managing Director of Central Securities Depository of Iran Mohammad-Reza Mohseni said over 264 foreign investment requests have been registered in the country during the period (stared on January 16, 2016) when Foreign Minister Mohammad Javad Zarif and European Union’s foreign policu chief Federica Mogherini announced in a joint statement the day of implementation of the landmark nuclear deal which was made by Iran and the world six major powers (the US, Britain, Russia, France and China plus Germany) in July 2015.
According to Mohseni the value of the foreign investments in Iran has also increased five folds during the post-JCPOA era.
The official noted that the implementation of the nuclear deal has paved the way for the presence of more foreign companies in Iran’s investment marke
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.
Iran’s Charge d’Affairs in Oman, Mohammad Totonchi, said Iran and Oman are in talks to launch and establish an auto manufacturing plant in this southern Persian Gulf country. Speaking to the media on Thursday, Totonchi said Iran is to build an auto manufacturing plant in al-Duqm economic zone of Oman….
French Ambassador to Iran Francois Senemaud said that the country’s state-run and private sectors are determined to beef up its presence in Iran and further strengthen trade ties with it. In a meeting with managing director of Qeshm Free Zone Organization Hamid Reza Momeni, he added that while companies such…
The rate of foreign investment has been increased by 42 percent during the past 12 months thanks to the implementation of the Joint Comprehensive Plan of Action (JCPOA), an Iranian official said on Tuesday. Speaking to IRNA, Managing Director of Central Securities Depository of Iran Mohammad-Reza Mohseni said over 264…
Iran’s Minister of Roads and Urban Development Abbas Akhoundi (L) signing a diesel locomotives production deal with the visiting German Minister of Transport and Digital Infrastructure, Alexander Dobrindt. (Photo by IRNA) Iran says it has signed a deal with Germany to cooperate over production of 50 diesel locomotives which will…
Vice-President and Head of Cultural Heritage, Handicrafts and Tourism Organization, Zahra Ahmadipour, said on Sunday that Iran welcomes Albanian investors’ investment in the tourism infrastructure. 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…
Vice Governor of Bank Meli Iran for Foreign Exchange Affairs emphasized the fact that Iranian banks are reinforcing international ties in the post-sanctions era, adding that technical, trade and political obstacles still exist. Gholamreza Panahi told IRNA on Saturday that many Iranian banks have resumed brokerage ties with foreign banks…
Just define your interests, We will promote the best investment opportunities for you