World  Business and Economic Analysis 

Iran,

  • Iran’s railway sector with huge potential for Investors

     

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    Iran’s railway sector is exciting with a lot of potentials for foreign exhibitors participating in Iran’s 4th International Exhibition of Rail Transportation, Related Industries and Equipment, dubbed RAILEXPO 2016 (running from May 15 to 18 in Tehran).


    Firdavsi Nuraliev, the export sales manager of Lukoil Lubricants Middle East, the branch of Russian Lukoil Lubricants Company for the Middle East market, believes that the removal of sanctions will facilitates everything for business in Iran.

    “We always eager to enter the Iranian market as it is one of the main markets in the Middle East,” he stated.

    “We will enter the Iranian market in several stages. The first stage is to have a specific part of Iranian market on which we could trust. It will be achieved through producing the high quality of our products to the Iranian customers so that the demand will be increased, and then in the next stage we want to produce our products inside Iran,” the manager explained.

    He mentioned high tax and customs duties Iran set for the foreign products entering the country as a downside for business in the Islamic Republic, although he said that it will be  temporary and will be resolved as the Iranian government plans to establish free trade zones in the country where taxes are exempted or lower.


    Wolfgang R. Fally, the CEO of Germany’s Robel Company, a specialist for railway construction equipment and machinery, believes that there is no downside for activity in the Iranian market rather than local workers require some training to work with modern equipment.

    “Experience of the workers here with the machines is a bit different from that of European ones. Maybe that is something that modern equipments are getting more complicated. You need the skill in the future to work with them. So it’s on us to provide more service and education and training to the operators of the machines,” he explained.

    Speaking about the upside of business in Iran, the German manager stated, “As we have a long-term partnership with our agent here, for many years we are in close contact with the Iranian market. It is a huge market. Of course, that is very good for us. Especially in the urban areas I think there is a lot of potential, because you have big cities here.”

    Asked if his company has any plan for transfer of technology to Iran, he said, “At this moment it should be convinced that our products are the right ones [for the Iranian market] and if the volume [of sales] gets bigger and if there is interest from the customers’ perspective, it’s an option of course to localize something here with our partner.”

     

     ‘Iranian market exciting with many upcoming projects’

    Thierry Metrat, the product manager in Spain’s Pfisterer Company, a provider of solutions for railway electrification, said, “The Iranian market is very exciting, because there is big potential especially for railway electrification. There are many projects for the next years, so we are very happy to be here.”

    “The political situation [in Iran] is now very good. It’s much better than before because countries are more open regarding what happened in the last months [sanctions removal],” the Italian manager noted.

     

     ‘Iran’s railway sector awaits lots of investment’

    Fabrizio Maggioni, the sales manager of the Italian railway company Mont-Ele, highlighted, “We believe Iranian market is attractive because we know that in the future there would be a lot of investment in the sector, both for railway and also for urban transportation system.”

  • Iran’s re-entry into the global economy: An interview with Chris Parker


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    by Iain MacGillivray

    Chris Parker, MBE, is the CEO of Iran Business Hub, a London-registered, international, British and Iranian partnership that specializes in large corporate entry into Iran. The Iran Business Hub provides confidential advisory, strategic planning and operational services. Mr. Parker sat down with GRI to discuss Iran’s re-entry into the global economy and the future of economic investment in Iran.
    “Not a question of how economic engagement will happen but when”

    GRI: With Iran’s re-entry into the global economy and the possibility of economic opportunities for trade and foreign capital, what do you see is the future for Iran regarding economic investment? What does Iran offer for future investors?

    Chris Parker: I was just talking to former deputy governor of the Central Bank of Iran (CBI) – Kamal Seyed Ali, who aptly pointed out that “Iran is in a period of transformation.” What this statement means is that there is a sense that there is great momentum building up and an enormous appetite from western businesses and their Iranian counterparts to engage with each other. Essentially, both the private sector and the Iranian government are so to speak ‘moving out onto the dance floor’ regarding economic engagement. They are unsure of how to ‘dance with each other’, but the motivation is there.

    However, there is a significant gap in information on how to facilitate this. Despite the appetite from international credit organizations, national banks and sovereign wealth funds, there needs to be patience and clarity before real economic engagement occurs. Notwithstanding this gap in information, there is support from all sides in making sure that this change and tempo continues. The necessary international frameworks and regulations are being established as we speak to facilitate these processes, but EU and US financial institutions need to help promote this further.

    However, we must remember the significance of how big the potential market is in Iran. It is a consumer-driven market, which has been short of branded and luxury goods for some time and this presents an opportunity for importing and rebuilding consumer confidence in these areas. Of course external influences such as the continuing OFAC sanctions and regional instability will drive uncertainty in these relations, but the unstoppable momentum and interest that is there between the private sector and the Iranian government can only bring round positive outcomes. It is not so much a question of how this economic engagement will happen but when.
    The potential of ‘soft infrastructure’

    GRI: What future investment do you see for the Iranian oil and aviation industry? What other industries do you see substantial growth in and the potential for foreign capital investment?

    Chris Parker:  The Iranian oil industry is in need of substantial investment. Some International Oil Companies (IOC’s), as well as their shareholders, will want to help Iran back onto its feet in re-entering the hydrocarbon market. Iran has the potential to dominate the oil sector and it is a growth economy. Regarding the aviation industry, growth is moving at a rapid pace and is fastest in terms of domestic aviation.

    Besides this let’s not forget that it is far easier in Iran to invest large amounts of capital compared with other Middle Eastern countries. Iran is a signatory to The New York Arbitration Convention on the Recognition and Enforcement of Foreign Arbitral Awards of 1958. This allows transparency and significantly reduces political risk, as there is a final court of arbitration and court-enforced decisions if anything does go wrong. However, all such legal frameworks, of course, remain recently untested. Iran presents a safe place to invest large amounts of capital investment, therefore the drive for international investment in these primary industries.

    In terms of other sectors as I mentioned previously, consumer goods will be one of the most major areas for investment and economic opportunities in Iran. However, what is also needed (and I can see exponential growth in), is ‘soft infrastructure’ such as in traffic control operation procedures, railway systems, and integrated logistics. Iran has a very well-educated population and the drive for innovation and design in population’s centres will see the potential for technological investment as well.

    Don’t forget that visas into Iran are easier to obtain now, and it will become a very attractive international tourist destination especially in the north of Iran. There is no significant resort-based tourism yet but with ski-fields and scenery that is second to none, International tourism is on the up and up and will no longer be exclusively for adventure travellers. However, despite international investment, it must be made clear that Iran will dictate its own growth with the help of these international and regional companies.
    “Iran can and will become a new trading hub”

    GRI: What possibilities does Iran’s re-emergence in the global economy present for regional economic prospects?

    Chris Parker: Iran is an island of stability in an ever uncertain and unstable region. It has the required institutional processes and security needed to provide a stable political and economic environment. This is why there is this thirst to invest because there is the potential as well as a secure environment for business.

    Concerning regional integration, the political rapprochement and lifting of sanctions has also seen Iran play a potentially larger role in the region. The economies in the GCC are in trouble due to the drop in the price of oil and the social tensions that are caused by this. Iran, however, has opened its doors to investment from regional players and vice-versa. It is easy to obtain a visa for business purposes as Iran seeks to play a wider part in the economic integration of the region. Despite the political situation in the Middle East, there is an excellent opportunity for economic integration with other Gulf States as is demonstrated by Iran’s relationship with Oman. Iran can and will become a new trading hub just like Dubai.  
    The need for a robust regulation model

    GRI: Which countries are most interested in investing in Iran? Do you see potential investment from international economic players such as the United States and other developing powers?

    Chris Parker:  In terms of investment and finance, there are still many primary sanctions holding back companies from investing in all sectors such as banking. Leading the way however is Turkey, who sees the opening up of the Iranian economy as an enormous opportunity. Turkey will dominate in terms of hard infrastructure, such as in construction industry due to its regional proximity and expertise. On the other hand, the EU and the UK will lead the way in ‘soft infrastructure,’ which I mentioned previously. Most of these investments will take the form of Joint Ventures that will develop not only these industries but also provide essential expertise.

    Iran, however, needs to work out a robust regulation model – whether it follows the path of Dubai in terms of high standards or follows the quick build model with a lesser standard. However, this decision will be crucial if Iran wishes to attract and establish solid business investment.

    Iran has now attained an unstoppable momentum. It is this rate of change that we need to observe and watch. For us in the business world, this tempo and rate of change must also come hand in hand with quality, safe infrastructure, and regulatory development. It must also be linked to political assistance from the international community and international business sector. The possibilities for the future are endless, but Iran cannot do this on its own.

    Chris Parker, MBE, is the CEO of Iran Business Hub. He is also Chairman of Charmogen Group, an international consultancy network, and he was previously Chief Operating Officer for a major oil & gas exploration company. He has also been an Operations Director with Hyder plc in London, and was Project Director for the successful $1.3B Burj Dubai infrastructure mega-project in the UAE. Chris has served on UK and NL Government Trade Missions to the MENA region and frequently speaks at international trade conferences and comments live on Sky News and international media. Chris has a Master’s Degree in Technology and is a Chartered Manager and Fellow of the CMI.

    keywords:Iran,Investment

    Source:Global Risk Insights

  • Iran’s risk rating drops down to 6

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    The Organization for Economic Co-operation and Development (OECD) in its latest report on countries’ risk index, reported Iran’s risk rating with one step improvement from 7 to 6 which shows Iran is ready for investment .

    During the last meeting of Export Credit Guarantee Fund member experts to the Organization for Economic Co-operation and Development (OECD), Iran’s new economic and trade status following the implementation of the nuclear deal and the lift of sanctions were discussed and evaluated, and the members voted by consensus to reduce the country’s risk ranking from seven to six.

    According to credit risk classification by the OECD, countries are divided into seven groups from low risk (1) to high risk (7). The Islamic Republic of Iran was placed in the 4th risk rating during its eight government in 2001 and was later moved to the 7th rating in the next governments after the imposition of international sanctions.

    The countries’ risk rating determines investment attraction limit, the cost of credit insurance and foreign financing. As a result, the three government branches of Iran should put on agenda the adoption of appropriate monetary, foreign exchange and trade policies in order to further reduce the country’s risk rating.

  • Iranian banks to open branches in Europe

     

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    Head of Monetary and Banking Research Institute (MBRI) said opening branches of Iranian and European banks had been placed on the agenda.

    Speaking at the 4th Iran-Europe Trade and Banking Conference in the IRIB International Hall, Ali Divandari said the event mainly seeks to review process of reforms in Iran’s banking system in order to speed up connections to the international system.

    In the meantime, issues like future of the industry, launch of Iranian banks in Europe and meeting international standards will be surveyed by experts during the two-day conference.

    MBRI managing director described Europe as the second largest trade partner of Iran after Asia and expressed optimism that the event will prove effective in facilitating trade and banking relations between the two sides.

    He noted that MBRI, as the research arm of the Central Bank of Iran (CBI), had put on the agenda serious measures to reconnect Iran’s banking system to the global one as a means of paving the path for expansion of trade and banking ties.

    “Investment opportunities in Iran, especially in infrastructure and energy sectors, will be introduced to foreign guests of the conference,” Divandari underscored.

    He reiterated that compliance to international rules and regulations and combating money laundering were major prerequisites to reconnection of Iran to the International banking system.

    The Monetary and Banking Research Institute is holding the 4th Iran-Europe Trade and Banking Conference in the IRIB International Hall on 29-30 April 2017.

    The main objectives of the conference include the exchange of ideas between various scholars and specialists from different economic fields; active participation of reputable domestic and foreign firms; holding of multilateral meetings between European individuals, companies and institutions and their Iranian counterparts; provision of a platform for meeting potential customers and trade partners; building private and personal communication networks; and also introduction of various products and services.

  • Iranian Educated and Talented, But Lacking Opportunities

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    Iran ranks 139th in the latest World Economic Forum annual report on “The Global Gender Gap”—a two-notch improvement from last year’s 141st.

    The WEF report gave Iran a score of 0.587 in terms of women’s parity with men (0.00 being imparity, 1.00 indicating parity).

    The 2016 report covers 144 countries (last year, it included 145 countries) and quantifies the magnitude of gender disparities and tracks their progress over time, with a specific focus on the relative gaps between women and men across four key areas: health, education, economy and politics.

    Iran ranked 140th for economic participation and opportunity, 94 for educational attainment, 98 for health and survival and 136 for political empowerment.

    The economic participation and opportunity sub-index (which is the main focus of this writing) contains three concepts: participation gap, remuneration gap and advancement gap.

    The participation gap is captured using the difference between women and men in labor force participation rates. Iran has scored 0.224 (the average is 0.665) and ranked 142nd in this category. Last year, the country was placed 143rd.

    The remuneration gap is captured through a hard data indicator (ratio of estimated female-to-male earned income) where Iran has ranked 141st and a qualitative indicator gathered through the World Economic Forum’s Executive Opinion Survey (wage equality for similar work) where the country was placed at 101st.

    Finally, the gap between the advancement of women and men is captured through two hard data statistics. The ratio of women to men among legislators, senior officials and managers, in which Iran ranked 100th, and the ratio of women to men among technical and professional workers subcategory, where the country ranked 111th.

    The WEF says Iran has narrowed the gender gap for legislators, senior officials and managers as well as women parliamentarians, from a low base. It has also fully closed its gender gap in primary and secondary education.

    However, it regresses on wage equality, professional and technical workers as well as the tertiary enrollment gender gap.

    The data reveal four broad groups of countries: (1) countries that have closed or are generally on track to close education gender gaps and show high levels of women’s economic participation; (2) countries that have closed or are generally closing education gender gaps but show low levels of women’s economic participation; (3) countries that have large education gaps as well as large gaps in women’s economic participation; and (4) countries that have large education gaps but display small gaps in women’s economic participation.

    According to the report, Iran is among a group of countries that have made key investments in women’s education, but generally did not remove barriers to their participation in the workforce and are thus not seeing returns on their investments in terms of development of one half of their nation’s human capital.

    This group includes Iran, the UAE, Chile and India. These countries have an educated but untapped talent pool and much to gain from women’s greater participation in the workforce.

    Iceland is the top country on the WEF’s Global Gender Gap index and Yemen comes in last in the index.

  • Iranian robots to build structures in one day

     

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    A team led by Iranian professor Behrokh Khoshnevis is working on developing robots that will be able to construct buildings in a single day.

    Behrokh Khoshnevis, an Iranian professor at USC Viterbi School of Engineering in California, US, told Mehr News that he has been working on Selective Separation Sintering (SSS) process for 20 years so that he can build structures in an automated way using 3-D printing.

    SSS is the first process which will be able to work in zero gravity. Compared to expensive technologies like lasers, SSS provides more speed, accuracy and independence and has high potential for space and planetary use, he added.

    Khoshnevis, who is a two-time NASA competition winner, maintained that construction work is highly dangerous, and statistics show that approximately 60,000 people lose their lives during construction; “construction also takes a lot of time and costs a lot of money, therefore building structures by robots is an urgent need.”

    The Iranian engineer added that his project has been followed up by NASA to be implemented on other planets as well, saying “for years, I have been conducting various research and development on the construction of structures on the moon and Mars from the materials available in space. I am hoping to be able to apply this project in Iran as the first country of choice.”

    “With this method, a 200m structure can be built in one day,” he said, adding “of course we will begin with smaller buildings and with bigger machines we can construct bigger structures.”

    He further added that this technology enjoys massive energy and environmental benefits, adding “any structure can have a unique design of its own with complex curves.”

    Khoshnevis’ existing Contour Crafting, a mega-scale 3-D printing process, won the grand prize in a 2014 NASA competition.

  • Iranian SMEs receive $1.9b in Loans in 10 Months


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    As many as 11,232 small- and medium-sized enterprises have received an aggregate of 79 trillion rials ($1.97 billion) in loans during the 10 months to January 19, 2017, according to the chairman of Iran Small Industries and Industrial Parks Organization.

    Ali Yazdani, who is also a deputy minister of industries, mining and trade, added that the loans are part of a stimulus plan prepared by the government's economic team, based on which loans worth 160 trillion rials ($4 billion) are to be given to struggling SMEs in the industrial and agricultural sectors, IRNA reported.

    By definition, enterprises run by 50 workers or less, and 100 workers or less are considered small- and medium-sized respectively, according to Iran’s Small Industries and Industrial Parks Organization.

    In July 2016, it was announced that 96% of the 88,000 licensed Iranian businesses are considered small- and medium-sized.

    According to another deputy minister of industries, mining and trade, Reza Rahmani, some 20,000 industrial units have emerged from recession since the beginning of the current Iranian year (March 20, 2016).

    According to Farshad Moqimi, the deputy head of Iran’s Small Industries and Industrial Parks Organization, Iranian SMEs have attracted $1.84 billion in foreign direct investment since President Hassan Rouhani took office in August 2013, of which $653 million have been invested after the implementation of Iran’s nuclear deal.

    “Since Rouhani became president, foreign investors have signed 47 contracts to establish small- and medium-sized industrial enterprises and create 2,740 jobs,” he said.

    “These contracts have been signed by Turkey, Azerbaijan, Ireland, Japan, Iraq, Afghanistan, Croatia, China, Germany, France, Turkmenistan and the UAE.”

    Seven of the 47 contracts have been signed since the removal of sanctions.

    Of all the agreements, Moqimi noted that 25 projects have become operational and the rest are either under construction or their machinery are being installed.

    Back in May, Iran Chamber of Commerce, Industries, Mining and Agriculture hosted a delegation of World Bank experts who had come to assess the situation for the provision of loans to small- and medium-sized enterprises.

    “We might be able to get them to provide us with at least $1.5 billion to $2 billion in loans, if we can convince them of Iranian SMEs’ potential and capabilities,” said Mohsen Jalalpour who was then the ICCIMA president.

    In a move initiated by Iran Fara Bourse, the over-the-market exchange launched a platform for trading SME shares in December.

    “The advent of SMEs in the capital market will help drive the economy toward greater transparency. It will also spur employment and growth by funding smaller businesses,” said CEO of Securities and Exchange Organization Shapour Mohammadi.

  • Iranian trade delegation in Beirut:official

     

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    Iran's Deputy Industry, Mine and Trade Minister Mojtaba Khosrotaj, heading an economic and trade delegation, arrived in the Lebanese capital, Beirut, on Wednesday.




     Khosrotaj is set to attend an international conference on evaluating the capacities of the Lebanese people living abroad.

    In a special panel for introducing Iran, he is also scheduled to introduce the Islamic Republic's capabilities in economic, tourism, industrial, trade, technical and engineering arenas to the Lebanese people living abroad.

    While in Beirut, Khosrotaj is to hold separate meetings with several Lebanese high-ranking officials.

    Initiated by Lebanon Foreign Ministry, the two-day conference will be inaugurated in Beirut on Thursday.

  • Is Industrial PPI’s U-Turn Pointing to Recovery?


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    Latest inflation figures may suggest a pickup in Iran’s industrial base.
    Producer Price Index, which measures inflation in manufacturing costs and prices, and is considered a foreteller of consumer prices, rose 4.5% in the rolling year to April 19, according to the latest report published by the Central Bank of Iran on its website.
    According to the Persian newspaper Donya-e-Eqtesad, the rise is the lowest increase in producer prices since 1991, when the central bank started compiling PPI.
    PPI (using 2011 as the base year) stood at 216.3 in Farvardin (Iranian month ending April 19), indicating a 0.2% growth compared with the previous month, the CBI report shows.
    Part of that increase is due to a 1.7% rise in Industrial PPI, the most in 11 months, in the said month. The rise in industrial production prices comes after months of back-to-back decline, which had economists worried about low consumer demand that led to the decline.
    There are three possible reasons behind the rise in industrial manufacturing prices. The rise could point to escalating economic activity in the sector, though one month is too weak a signal to back this assumption.
    If prices continue to rise in the coming month, then we would be looking at a revival of industrial activity.
    Rising costs, like wage increases, may have also fueled industrial PPI. Costs were rising for producers in previous months, but low consumer demand stopped producers from hiking their prices, the paper wrote.
    That worry may be starting to dissipate, as the economy picks up in the post-sanctions era.
    Last but not least, global commodity prices have reversed their decline in recent months. This rise has, at least in part, impacted the Iranian economy, especially its large commodity-fueled industrial sector. Thus, rising commodity prices have driven up production costs.
    Iran emerged from years of economic isolation in January when world powers led by the United States and the European Union lifted crippling sanctions against Tehran in return for curbs on Tehran’s nuclear program.
    The implementation of the accord in July has increased economic activity ever since, though the legacy of bad policy in prior years weighs heavily on the economy.

  • ISOICO, Dutch IHC to share shipbuilding technology

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    Iran Ship Building and Offshore Industries Complex Co. (ISOICO) and Dutch shipbuilders have signed agreement to cooperate in sharing engineering and technology services.

    Mrs. Melanie Schultz van Haegen-Maas Geesteranus, Minister of Infrastructure and the Environment visited Bandar Abbas and her entourage of directors of shipbuilding companies, indeed a prominent industry in The Netherlands, discussed possibilities of cooperation with Iranian related industries, mainly ISOICO, on Wednesday evening.

    ISOICO Director Hamid Rezaian, who was in the meeting, told reporters that his fellow company and Dutch IHC would work jointly in exchange and sharing of engineering and technology services and manufacture and procurement of spare parts; “DAMEN and IHC directors also visiting Bandar Abbas along the minister; they are among the largest shipbuilding and repair and maintenance of ships worldwide; a total of 2,000 vessels are their products,” he told the press.

    Rezaian added that after implementation of nuclear deal with world powers, JCPOA, there had been a surge in the number of European and Asian companies seeking cooperation and participation in Iran’s projects, especially shipbuilding.

    “We welcome Dutch companies’ capabilities in shipbuilding, building dredgers and tugs, and the technical know-how of the industry; Iran’s industry has ample opportunities for Dutch companies to work, especially in technology transfer and investments in the industry,” he added.

    Dutch entourage arrived in Bandar Abbas on Tuesday and had notable personalities including representatives of BAM, an international contractor company, IHC Offshore Technology Institute, Royal Boskalis Westminster NV, STC Group (Shipping and Transport College Group), Van Oord, a dredging and land reclamation company, and Witteveen+Bos engineering and consultancy group.

  • Italian Banks Shows Readiness For Financial Transactions With Iran

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    Commenting on the latest business developments between the two sides, he said, "Regarding banking transactions, five or six second or third tier banks have begun dealings with Iranian entities. But as long as the concerns of major international banks wanting to deal with Iran are not removed, these visits of foreign delegations will not bear fruit," Pourfallah said in an interview.
    Giving some numbers on the foreign trade missions that have visited Tehran so far, he said, "Nearly a thousand business and trade representatives have come to our country, which is a record. Moreover, Italy is the leading country in signing accords and letters of intent."
    The first edition of the Iran-Italy Business Summit was held earlier this month in Tehran in the presence of a large delegation of Italian business leaders.
    The meeting brought together key Italian and Iranian corporate and institutional stakeholders, leading economists and opinion-makers to help build an influential community of business leaders willing and able to enhance the close ties that marked the history of the two nations.
     

    It is often heard that the foreign delegations come and go but nothing concrete happens, Pourfallah noted. "But in my opinion, after eight years [of sanctions] that we were cut off from the global economy, these visits were crucial and also necessary for both sides to be able to reconnect."
    Henceforth "we should show solidarity and speak with one voice. We must insist on reaping the benefits that we anticipated when signing the nuclear agreement, and should not back down until we can find our way back to the global economy.''
    True, foreign businesses are keen on reconnecting with Iran, but there are concerns regarding their future which has led to much hesitation and contemplation on their part, the official noted.
    He warned of the consequences that "we will face should we not follow up on the accords that we envisaged" would follow the historic deal with the six world powers.
    If things do not move on the right trajectory between Iran and the outside world "The number of business delegations travelling to Iran will gradually shrink and we will be back to square one – a sort of island disjointed from the rest of the world."
    Iran has made known at the highest level of government that it wants to re-establish mutually-beneficial business with the comity of nations sooner rather than late. However, some legal hurdles still exist in the way of normalcy between western banks and Iranian businesses, namely the remaining US sanctions unrelated to alleged human rights violations and terrorism charges.

  • Italian company to build 50 MW solar power plant on Iran’s Qeshm island



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    The Italian company of Carlo Maresca S.p.A. is to build a 50-megawatt solar power plant on the southern Iranian island of Qeshm due to its signed agreement with the Qeshm Free Zone Organization, ISNA reported on Sunday.

    The deal was signed between Fabio Maresca, the chairman of the Italian company, and Hamidreza Mo’meni, the head of Qeshm Free Zone Organization, on the sidelines of Italian Prime Minister Matteo Renzi’s visit to Iran.

    Underlining the new round of bilateral economic relations between Iran and Italy, Mo'meni noted that the government seeks to improve the southern island via expanding macro-economic activities there and reinforcing its infrastructure including construction of the intended solar power plant.

    Maresca, for his part, vowed that his company will complete this project in eight months.

    Heading a 250-strong political and economic delegation, Renzi arrived in Tehran in last Tuesday, making him the first Italian official in such capacity to visit Iran since 2001.

    Parts of the delegation were Italian ministers of infrastructure and transport; economic development; and agriculture, food and forestry policies. Businessmen and personalities from Italy’s public and private sectors were also accompanying Renzi in the visit.

    Representatives from Italy’s private sector signed several memoranda of understanding with their Iranian counterparts, boosting ties in various sectors including textile, oil, energy, steel, telecommunications, aviation, medicine, and etc.

  • JGC looking to land plant contracts in Iran this year

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    Iran is poised to build new oil refineries and petrochemical plants, now that it has been freed from international sanctions. Experts warn that investing in the Middle Eastern country is still risky, in part due to sectarian tensions with neighbors such as Saudi Arabia. Yet companies are leery of another risk, too -- missing out on huge opportunities.

    Yoshihiro Shigehisa

         JGC, Japan's leading plant builder, is one company looking at ways to capitalize on this potentially lucrative market. The Nikkei spoke with Yoshihiro Shigehisa, JGC group's chairman emeritus, about the business outlook in Iran.

    Q: What are your expectations for post-sanctions Iran?

    A: This is an opportunity to tap a big, promising market. Iran has one of the largest populations in the Middle East, with nearly 80 million people. It has said it will raise its crude oil output in two stages, by 1 million barrels a day. We pulled our employees out of the country because of the sanctions, but we plan to station one or two in Tehran by spring. We expect growing demand for plants, and we hope to strike some deals by the end of this year.

         There are opportunities for other Japanese businesses, not just ours. Due to the sanctions, the government has limited funds for new projects. For large endeavors, Tehran will seek to secure loans or work out other financial arrangements with its partners.

    Q: Are you interested in other fields of business in Iran, besides the resource sector?

    A: We want to invest in ways that will help the country to develop. Nothing has been decided yet, but we may consider investing in hospitals and agriculture, along with power plants.

    Q: Earlier this year, Saudi Arabia cut diplomatic ties with Iran. Are you worried about the deepening religious conflict?

    A: My sense is that the bilateral relationship will not deteriorate further. Falling crude oil prices are hitting both economies. They should be aware that this is not the time for them to confront each other.

         But it is also true that we should be cautious when making deals with Iran, to avoid compromising our relationship with Saudi Arabia. I recently visited a Saudi customer I have known for years. Although this customer might not welcome us doing business with Iran, the impression I got was that they would accept it. 

  • Korea Banks Prepare for Iran Business

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    An official at KB Kookmin Bank said they are negotiating with major banks in Iran in order to be ready, just in case they will be able to do trade with Iranian counterparts using the yen or the euro. “We have also established a new team that will specifically work on the two countries’ trade-related issues,” the official said, Korea JoongAng Daily reported.  Moreover, the Korean government announced that it will do its best to help local companies and financiers enjoy doing business in Iran. Korean President, Park Geun-hye is in Iran accompanied by a large trade delegation.  “Major sanctions targeting Iran were lifted more than three months ago,” Choi Sang-mok, a vice finance minister, said at a meeting held with major companies and financiers. “But Korean companies entering the new market are not doing as well as they had expected.”

  • Law on Foreign Investment Promotion and Protection Act

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    The Law on foreign investment in Iran under the name of “Foreign Investment Promotion and Protection Act” (FIPPA) was ratified by the parliament in 2002.

    Some specific enhancements introduced by FIPPA for foreign investment in Iran can be outlined as follows:
    1-Broader fields for involvement by foreign investors including in major infrastructure,
    2-Broader definition given to foreign investment, covering all types of investments from FDI to different types of project financing methods including :Civil Participation, Buy –Back arrangements, Counter trade and various BOT schemes;
    3-Streamlined and fast track investment licensing application and approval process;
    4-Creation of a one stop shop called the “Center for foreign investment Services” at the organization for investment for focused and efficient support for foreign investment undertaking in Iran,
    5-More flexibility and facilitated regulatory practices for the access of foreign investors to foreign exchange for capital transfer purpose

     

    Law on Foreign Investment Promotion and Protection Act (English)

    Application form to enjoy Foreign Investment and protection act in Iran  (FIPPA)

     

    If you need Free Investment consultancy on investing in Iran Special Economic Zones please send your questions  to: This email address is being protected from spambots. You need JavaScript enabled to view it.  

  • Letter for Politicians to Stop Threatening

     

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    Dear Esteemed politicians in all over the world

    In the name of Humanity

    I do not know who you are and where are you located. Please look following poem:

    Human beings are members of a whole

              In creation of one essence and soul

    Les êtres humains (les enfants d'Adam) sont les parties d'un corps

     

    Ils sont issus de la même essence

     

                 If one member is afflicted with pain           

     

                Other members uneasy will remain           

     

    Lorsqu'une de ces parties est atteinte et souffre

     

    Les autres ne peuvent trouver ni la paix ni le calme

     

                If you've no sympathy for human pain           

     

                The name of human you cannot retain          

     

    Si la misère des autres te laisse indifférent

     

    Et sans la moindre peine ! Alors

     

    Il est impensable de t'appeler un être humain

     

    The politician did not let us to know each other. Many years ago Iranian poet said this :

     We are not politician who play with words and deceive others. We are human beings. We have been created to respect each other, understand each other, and sympathize with your pain.

    Human being has been suffered from many wars which only million people killed, many abandoned their country and many children become without parents.

    Please look out all wars which have been happened in recent years in Iraq,Libya,Afghanistan ,Iran.

    Who are victim of this war? The only answer is people.

    Where is Georg Bush ,Saddam Hussein,Moammar Ghadafi and many others who make this war?

    Many people in these countries killed, disabled.

    Why we threaten each other with words, wars, technology, and weapon of mass destruction?

    What is the fault of children in this unwanted war?

    What is the fault of students in this unwanted war?

    Please just for sake of our children and our future generation respects our difference in religion, culture.

    Iranian people like to Interact with other different cultures .Please do not take serious some media fake stories .Iranian are kind.

     

    Iran Despite Iran's rocky relations with the U.S., both Iranian president Mohamed Khatami[26][27][28] and Supreme Leader Ali Khamenei condemned and denounced the attacks and the terrorists who carried out the attacks. Iranians who gathered for a soccer match in Tehran two days after the 9/11 attacks observed a moment of silence. There was also a candlelight vigil. Huge crowds attended candlelit vigils in Iran, and 60,000

  • Lukoil interested in Iran petroleum contracts

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    Lukoil  company has expressed interest in re-entering the Iran market with the terms of the International Petroleum Contracts (IPCs), likely to be unveiled by October, the company’s CEO was quoted as saying to Iranian media.

     Vagit Alekperov added that Iran could also pass a law allowing foreign companies to invest in Iranian projects by the end of the year.

    "Based on the latest meetings I had in Vienna during OPEC, it is around September or October this year. It is mostly agreed on, according to my information, but there are minor details left. But as a rule, those details are always where the problems hide," he added.

    "We are working on studying Iran, there are territories that are attractive to us, there is preliminary agreement. But Iran today has no law allowing investors to invest in Iran's territory. It has been discussed for nearly three years now, we hope it will be passed at the end of this year, so that we could evaluate it and start working on it," Alekperov said.

    "We have two memoranda on zones of interests that we're analyzing. At this point we're just analyzing the data. Of course we are interested in returning to the Anaran project that we used to work on with Statoil," he said.

    Lukoil worked at Iran's gigantic onshore Anaran Block along with Norway's Statoil prior to international sanctions imposed on Tehran over its nuclear programme, the report said.

    "We today consider exploration projects and projects that require rehabilitation — those that have been launched but haven't reached the planned production level. We are capable of investing today to increase those projects' [flow]," Alekperov said.

  • Maryam Mirzakhani, first woman to win mathematics' Fields medal, dies at 40


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    Maryam Mirzakhani, a Stanford University professor who was the first and only woman to win the prestigious Fields medal in mathematics, has died. She was 40.
     
    Maryam Mirzakhani: 'The more I spent time on maths, the more excited I got'

    Mirzakhani, who had breast cancer, died on Saturday, the university said. It did not indicate where she died.
    In 2014, Mirzakhani was one of four winners of the Fields medal, which is presented every four years and is considered the mathematics equivalent of the Nobel prize. She was named for her work on complex geometry and dynamic systems.
    “Mirzakhani specialized in theoretical mathematics that read like a foreign language by those outside of mathematics: moduli spaces, Teichmüller theory, hyperbolic geometry, Ergodic theory and symplectic geometry,” the Stanford press announcement said.
    “Mastering these approaches allowed Mirzakhani to pursue her fascination for describing the geometric and dynamic complexities of curved surfaces spheres, doughnut shapes and even amoebas – in as great detail as possible.”
    Her work had implications in fields ranging from cryptography to “the theoretical physics of how the universe came to exist”, the university said.
    Mirzakhani was born in Tehran and studied there and at Harvard. She joined Stanford as a mathematics professor in 2008. Iran’s president, Hassan Rouhani, issued a statement praising Mirzakhani.
    “The grievous passing of Maryam Mirzakhani, the eminent Iranian and world-renowned mathematician, is very much heart-rending,” Rouhani said in a message that was reported by the Tehran Times.
    Iran’s foreign minister, Mohammad Javad Zarif, said her death pained all Iranians, the newspaper reported.
    “The news of young Iranian genius and math professor Maryam Mirzakhani’s passing has brought a deep pang of sorrow to me and all Iranians who are proud of their eminent and distinguished scientists,” Zarif posted in Farsi on his Instagram account.
     
    Fields Medals 2014: the maths of Avila, Bhargava, Hairer and Mirzakhani explained
    Read more
    “I do offer my heartfelt condolences upon the passing of this lady scientist to all Iranians worldwide, her grieving family and the scientific community.”
    Mirzakhani originally dreamed of becoming a writer but then shifted to mathematics. When she was working, she would doodle on sheets of paper and scribble formulas on the edges of her drawings, leading her daughter to describe the work as painting, the Stanford statement said.
    Mirzakhani once described her work as “like being lost in a jungle and trying to use all the knowledge that you can gather to come up with some new tricks, and with some luck you might find a way out”.
    Stanford president Marc Tessier-Lavigne said Mirzakhani was a brilliant theorist who made enduring contributions and inspired thousands of women to pursue math and science.
    Mirzakhani is survived by her husband, Jan Vondrák, and daughter, Anahita.

     

    Maryam Mirzakhani has become the first woman to win the Fields Medal, the most prestigious prize in mathematics. Mirzakhani, 37, is of Iranian descent and completed her PhD at Harvard in 2004. Her thesis showed how to compute the Weil-Petersson volumes of moduli spaces of bordered Riemann surfaces. Her research interests include Teichmüller theory, hyperbolic geometry, ergodic theory, and symplectic geometry. She is currently professor of mathematics at Stanford University, and predominantly works on geometric structures on surfaces and their deformations.
    What are some of your earliest memories of mathematics?

    As a kid, I dreamt of becoming a writer. My most exciting pastime was reading novels; in fact, I would read anything I could find. I never thought I would pursue mathematics until my last year in high school. I grew up in a family with three siblings. My parents were always very supportive and encouraging. It was important for them that we have meaningful and satisfying professions, but they didn't care as much about success and achievement.

    In many ways, it was a great environment for me, though these were hard times during the Iran-Iraq war. My older brother was the person who got me interested in science in general. He used to tell me what he learned in school. My first memory of mathematics is probably the time that he told me about the problem of adding numbers from 1 to 100. I think he had read in a popular science journal how Gauss solved this problem. The solution was quite fascinating for me. That was the first time I enjoyed a beautiful solution, though I couldn't find it myself.
    What experiences and people were especially influential on your mathematical education?

    I was very lucky in many ways. The war ended when I finished elementary school; I couldn't have had the great opportunities that I had if I had been born 10 years earlier. I went to a great high school in Tehran – Farzanegan – and had very good teachers. I met my friend Roya Beheshti during the first week of middle school. It is invaluable to have a friend who shares your interests, and it helps you stay motivated.

    Our school was close to a street full of bookstores in Tehran. I remember how walking along this crowded street, and going to the bookstores, was so exciting for us. We couldn't skim through the books like people usually do here in a bookstore, so we would end up buying a lot of random books. Also, our school principal was a strong-willed woman who was willing to go a long way to provide us with the same opportunities as the boys' school.

    Later, I got involved in Math Olympiads that made me think about harder problems. As a teenager, I enjoyed the challenge. But most importantly, I met many inspiring mathematicians and friends at Sharif University. The more I spent time on mathematics, the more excited I became.
    Could you comment on the differences between mathematical education in Iran and in the US?
    Sign up for Lab notes - the Guardian's weekly science update
    Read more

    It is hard for me to comment on this question since my experience here in the US is limited to a few universities, and I know very little about the high school education here. However, I should say that the education system in Iran is not the way people might imagine here. As a graduate student at Harvard, I had to explain quite a few times that I was allowed to attend a university as a woman in Iran. While it is true that boys and girls go to separate schools up to high school, this does not prevent them from participating say in the Olympiads or the summer camps.

    But there are many differences: In Iran you choose your major before going to college, and there is a national entrance exam for universities. Also, at least in my class in college, we were more focused on problem-solving than on taking advanced courses.
    What attracted you to the particular problems you have studied?

    When I entered Harvard, my background was mostly combinatorics and algebra. I had always enjoyed complex analysis, but I didn't know much about it. In retrospect, I see that I was completely clueless. I needed to learn many subjects which most undergraduate students from good universities here know.

    I started attending the informal seminar organized by Curt McMullen. Well, most of the time I couldn't understand a word of what the speaker was saying. But I could appreciate some of the comments by Curt. I was fascinated by how he could make things simple and elegant. So I started regularly asking him questions, and thinking about problems that came out of these illuminating discussions.

    His encouragement was invaluable. Working with Curt had a great influence on me, though now I wish I had learned more from him. By the time I graduated I had a long list of raw ideas that I wanted to explore.
    Can you describe your research in accessible terms? Does it have applications within other areas?

    Most problems I work on are related to geometric structures on surfaces and their deformations. In particular, I am interested in understanding hyperbolic surfaces. Sometimes properties of a fixed hyperbolic surface can be better understood by studying the moduli space that parameterises all hyperbolic structures on a given topological surface.

    These moduli spaces have rich geometries themselves, and arise in natural and important ways in differential, hyperbolic, and algebraic geometry. There are also connections with theoretical physics, topology, and combinatorics. I find it fascinating that you can look at the same problem from different perspectives and approach it using different methods.
    What do you find most rewarding or productive?

    Of course, the most rewarding part is the "Aha" moment, the excitement of discovery and enjoyment of understanding something new – the feeling of being on top of a hill and having a clear view. But most of the time, doing mathematics for me is like being on a long hike with no trail and no end in sight.

    I find discussing mathematics with colleagues of different backgrounds one of the most productive ways of making progress.
    What advice would you give those who would like to know more about mathematics – what it is, what its role in society has been, and so on?

    This is a difficult question. I don't think that everyone should become a mathematician, but I do believe that many students don't give mathematics a real chance. I did poorly in math for a couple of years in middle school; I was just not interested in thinking about it. I can see that without being excited mathematics can look pointless and cold. The beauty of mathematics only shows itself to more patient followers.

  • Ministry of Economy is pursuing the realization of digital banking and insurance

    Speaking at the session of the General Council of Iran Insurers Syndicate, attended by the deputy Minister of Economic Affairs and Finance, Abbas Memarnejad stated that the most important aspect of digitizing insurance companies is designing a business model.

    According to international research, the use of new technologies, business process modification, and business model design by insurance companies reduce business costs by 5 to 6 percent, 12 to 15 percent, and 20 to 25 percent respectively, he said.

    The focus of insurance companies on the customer experience and need for designing and delivering new products to the market is a new look at the insurance industry that must be given serious consideration for their survival in the market, Memarnejad noted.b_200_200_16777215_00_images_memarnejad.jpg

  • Mittal signs €1bn iron deal in Iran

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    Mittal Steel has signed a contract worth €1 billion to produce iron in southern Iran.


    Global industrial giant Mittal Steel on Tuesday signed a contract worth €1 billion to produce iron in southern Iran.

    The contract that has been signed with Mahan Industries and Mines Development Company – a subsidiary of Iran’s Tourism Financial Group – envisages extracting iron and the establishment of a processing plant in the country’s southern province of Kerman.     

    Mahan has not specified which specific iron mine will be the subject of the deal with Mittal but it owns a major mine near Sirjan which is considered to be one of the largest in the country with a reservoir of about 1.2 billion tons.  The company last year won a deal to extract 24 million tons of iron from the same mine for 14 years.

    Mittal Steel is also based on the same deal expected to take charge of managing Mahan’s Bonab steel production complex in northwestern Iran for a period of five years.

    Located near Tabriz, the capital of East Azerbaijan province, Bonab complex has an annual production capacity of over 3.5 million tons and is considered the biggest private sector steel production project in Iran.

    Tourism Financial Group – a major holding that controls a chain of banks, financial institutions, tourism enterprises and industrial firms – has announced in a statement that it expects the deal with Mittal to help transfer the technical knowledge in the steel industry to Iran.  

    It has also said it expects the deal to help Iran export steel products to regional and international markets through partnership with Mittal.  

کتاب عملیات بانکی در عرصه بین الملل -سرفصل ها،ضمائم ،توصیه صاحب‏نظران ارزی و مدیران ارشد بانکی

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