Due Diligence
Who to trust is a key business decision and there is a lack of data available to normal channels in Iran. World Business Year's confidential Due Diligence service allows our members to conduct high level checks to ensure your good governance.

Individual Check

Individuals are discreetly checked out for credibility, reputation and any potential 'red flags'.
    
Company Check

Corporate requirements need confidence in supply chain or distributors, professional services or potential partners. This check is done carefully and comprehensively.
    
Data Check

Critical data for fundamental business decisions must be checked by a third party or there is a risk of inaccuracies causing embarrassment or failure.

Keywords:Due Diligence ,Invest ,Iran

TEHRAN - Iran’s Foreign Minister Hossein Amir Abdollahian and the Economic Cooperation Organization’s new Secretary General Khosro Nazeri have held talks over ECO’s role in the region and in strengthening cooperation among member states.

Amir Abdollahian expressed satisfaction with the implementation of infrastructure and long-term projects in the fields of transportation, trade, finance and banking. He voiced hope that incomplete projects will be finished during Nazeri’s tenure, the Iranian foreign ministry said. 

The Iranian foreign minister also voiced regret over the recent terrorist attacks in Afghanistan which is a key member of ECO.

Elsewhere, Amir Abdollahian referred to recent negotiations between Iran and the European Union in Tehran and Brussels, saying the nuclear talks between Iran and the 4+1 group of countries will soon resume.

In the meeting, ECO’s secretary general expressed pleasure with his trip to Iran.

Nazeri appreciated Iran’s effective help with his appointment as ECO’s chief and gave a report on the activities of the body including arrangements that are afoot to hold the ECO summit in Ashgabat on November 28 with the presidents of member states in attendance.

He underlined Iran’s key role in ECO and urged the Islamic Republic to continue supporting the important regional organization.

Amir Abdollahian reaffirmed Iran’s continued backing for ECO and its secretary general, expressing hope that in the Ashgabat summit which is expected to be attended by Iran’s president, key decisions will be made for development of regional cooperation.

It should be pointed out that Khosro Nazeri from Tajikistan was recently appointed as ECO’s secretary general.

by : Dr.  MehrdadSyadatnasab

Commercial Attaché of Iran Embassy, Pretoria, South Africa

 
Iran is an important and historical country with ancient civilization in the Middle East Region, situated in strategic location, with a population of about 80 million and it is the world’s 17th-most-populous market. Economy of Iran is the eighteenth largest economy in the world by purchasing power parity (PPP). In fact, Iran is a very young nation and it is not only about quantity, but also quality.
Iran, as a major energy producer in the Middle East holds 10% of the world’s oil reserves (second largest oil producer) and second largest reserves of natural gas (15% of the world's total) and it has the potential to become an energy superpower.
 
The economic fundamentals are strong. It’s been described as the Germany of the Middle East, an educated workforce, developed Infrastructure and a proud tradition of manufacturing with 7 Free Trade-Industrial Zones and 30 Special Economic Zones. The country has competent farmers, carmakers, drug firms and a fairly sophisticated service sector with abundant potential in Engineering & Technical services (721 Techno-Engineering projects have been executed in 42 countries by Iranian companies over the last 10 years), making it less dependent on oil, now at rock-bottom prices, than other big producers such as the Persian Gulf states.
 
The economy of Iran has been hit by sanctions and extensive trade restrictions in recent years, yet the nuclear deal has opened a clear path for total obliteration of sanction policy against the country. Although being sanctioned has been a big issue for the economy, but we can address this issue also as an opportunity than a threat.
After years of intensive negotiations have finally cleared all the misunderstandings around Iran's nuclear activities and In July 2015, Iran signed a historic deal with the P5+1 group of international mediators and now are taking the next step towards integrating more deeply into the global economy.
But foreign companies began flocking to Iran even before the deal was signed. In 2015, Tehran hosted a flurry of trade delegations and signed new contracts to boost cooperation and elaborating various opportunities in tourism, transportation, technology, foodstuff, aviation and machinery as well as oil and gas and other sectors. (Around 60 foreign delegations visited Iran in 2015 that at least a dozen were from Europe.)
In recent report the IMF noted that "prospects for 2016/17 are brighter, owing to the prospective lifting of economic sanctions. Higher oil production, lower costs for trade and financial transactions, and restored access to foreign assets, are expected to lift real GDP of Iran to about 4–5.5 percent in 2016."
 
As the largest untapped market with a very young population, the lifting of sanctions will bring around a host of new opportunities to foreign businesses with a prior presence in Iran as well as those interested in entering the Iranian market. New Iranian legislations such as the Foreign Investment Promotion and Protection Act have come into force in an attempt to attract more foreign investment, removing previous restrictions on the percentage of foreign shareholding in Iran, and the possibility of registering an Iranian company with 100% foreign capital as well as unlimited transfer of capital and dividends where applicable.
 
The country has one of the lowest levels of external debt in the world, which makes it more resistant to global shocks. (While the external debt to GDP is less than 5 percent in Iran, the number goes to around 50 percent for Turkey). Considering the substantial amount of not-satiated demand in almost every sector, an industrial base which requires renovation and rich natural resources mainly underutilized due to investment deficiency in recent years, Iran has extra ordinary expansion and investment potentials in the fields of Oil, Gas, Petrochemicals, Mines, Industries, Agriculture and Service sectors and it’s easy to see why investors and international companies are getting very excited about Iran.
At the end it is worth to mention that after years of economic isolation, the prospect of the world’s last major frontier market opening up in 2016 and we can say Economic Renascence are started and “Iran’s Golden Times” are not far away.

english news

With a market cap of about $90 billion, Iran’s stock market is fifth-largest in the Middle East. The lifting of sanctions allows the country to compete for investor attention with Saudi Arabia, which opened the region’s biggest stock market to direct foreign ownership seven months ago.
While investing on Tehran’s bourse was already legal for many international investors, financial sanctions placed on the banking system made it almost impossible to transfer money in and out of the country. The majority of those sanctions have been removed after an international deal over Iran’s nuclear ambitions, allowing the nation’s banks to reconnect to the Swift system for international financial transactions.
Although buying shares hasn’t been prohibited for Europeans, investing in certain industries, such as energy, has been off limits.

How can international investors enter?

There are two ways to access Iranian equities: invest directly, or go through local funds, said Parham Gohari, co-founder of Frontier Partners, a professional-services firm advising multinationals on entering Iran.
Investing directly requires the use of a broker based in Tehran, as well as a foreign trading license and investment code from the Securities and Exchange Organization. The code is needed to buy and sell securities in Iran.
The second way is to use a local fund. Several companies have been preparing foreign investment funds for Iran in anticipation of the lifting on sanctions. An index-linked ETF for foreigners already exists and a small fund exposed to sanctions-proof companies started in December.
“There are two or three bodies involved if you want to get through the direct route," Gohari said from Dubai. When using a local fund, “you would have to do your homework and understand the performance of some of these companies over the last few years," he said.
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The Financial Times says several European banks including Belgium’s KBC, Germany’s DZ Bank and Austria’s Erste Bank have started handling transactions with Iran.
The Financial Times says several European banks including Belgium’s KBC, Germany’s DZ Bank and Austria’s Erste Bank have started handling transactions with Iran.

European banks have reportedly started to re-engage with Iran after over two months from the removal of sanctions against the country.

The Financial Times reported on Sunday that Belgium’s KBC, Germany’s DZ Bank and Austria’s Erste Bank that they have started handling transactions on behalf of European clients doing business in Iran.

Nevertheless, bigger European banks remain on the sidelines, “scarred by a string of multibillion-dollar fines for earlier sanctions breaches in Iran”, the FT added.

KBC, Belgium’s biggest bank, has announced that it had “decided to support its well-established customers in its home markets” of Belgium, the Czech Republic and Slovakia “in their genuine trade with Iran, respecting all EU and US sanctions”.

“Such support is restricted to trade only and always subject to an in-depth screening of each transaction and all parties concerned,” FT has quoted KBC as saying in a statement. “To this effect KBC indeed has developed correspondent relationships with several state-owned and private Iranian banks.”

The daily has further quoted DZ Bank as announcing in a statement that it had started handling payments in euros via Iranian correspondent banks.

“We have started on-boarding Iranian banks in terms of trade finance co-operation, according to standard procedures. Going forward we might also seek to build correspondent banking relationships,” the FT had quoted DZ Bank as saying in its statement.

Both banks, it added, have emphasized that they have “checked” every payment involving Iran for sanctions compliance.

Indications had been specifically growing lately that a legacy of hefty fines by the US on banks that are caught for violating Iran sanctions is deterring businesses from trading with Iran.

Reports said last month that corporate leaders have already become frustrated over this even though the sanctions removal against Iran would have naturally meant the doors are open for investments in Iran.

The failure specifically by European banks to play their due role in business with Iran has already provoked reactions from several EU leaders and business leaders.  

British Prime Minister David Cameron in early March rebuked Barclays for hampering companies trying to export to Iran.

Also, Airbus which sealed an agreement with Iran in January to sell over 100 new planes to the country, has called on EU banks to dispel fears of doing business with Iran.

EU is seeking to expand commercial and political ties with Tehran following nuclear deal

A unit of the South Pars gas field on the northern coast of the Persian Gulf in Asalouyeh, Iran. Iran was a major supplier of energy to the EU before sanctions were imposed over the country’s nuclear activities.
By Laurence Norman


Iranian liquefied natural gas could start to play a significant part of the European Union’s energy mix after the next three to four years, the bloc’s energy chief said after meeting officials here to map out future energy ties.

Energy Commissioner Miguel Arias Cañete was in Iran as part of an EU mission seeking to expand commercial and political ties with the country following last year’s nuclear deal and January’s lifting of sanctions on Tehran.

In recent months, many national governments have led delegations to the Iranian capital and unveiled plans for ramped-up energy investment and business although there are significant obstacles still in delivering on some of those proposals. This weekend was the first chance for the EU to plot out a broader framework for energy ties.

Mr. Cañete met on Saturday with Iran’s oil and energy ministers. On Sunday, he held talks with Iran’s powerful Vice President Ali Akbar Salehi, a veteran official who also heads Iran’s atomic agency.

Iran, a major supplier of energy to the EU before tight sanctions were imposed over the country’s nuclear activities, has one of the world’s largest natural-gas reserves. Last fall, as the EU prepared for the lifting of sanctions, the European Commission estimated that by 2030, the bloc could be importing between 25 billion and 35 billion cubic meters of gas from Iran, much of it in the form of LNG.
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Following his meetings in Tehran, Mr. Cañete said he now believes significant volumes could already start flowing in the next three to four years. That, he said, is because Iranian authorities are looking to complete three LNG plants that were in the works before sanctions were tightened early in the decade.
Related

    EU’s Mogherini Pushes Closer Banking Ties With Iran (April 16)
    With U.S. Gas, Europe Seeks Escape From Russia’s Energy Grip (Feb. 25)
    Iran Seeks Rapid Reboot for Natural Gas Exports (Jan. 26)
    Iran’s Sanctions End as Deal Takes Effect (Jan. 16)
    Gas Producers Contemplate OPEC-Style Group (Dec. 4, 2015)

“Developing a gas plant doesn’t take so much” time, he said. ”For sure, it’s not tomorrow…But for the medium term it is very clear that LNG will be a possibility. And that fits with the security and supply strategy of the European Union.”

Mr. Cañete said Iranian officials made clear over the weekend that Iran had no immediate interest in extending gas pipelines to Europe. That would take too long and involve striking transit deals with some of its regional rivals.

“That leaves LNG as the biggest possibility of starting to supply gas to the world markets and to the European market,” Mr. Cañete said.

Despite the EU hopes, there are strong reasons for caution.

Iran’s domestic consumption of natural gas remains high, which means the immediate capacity for exports is limited. Policy changes aimed at cutting domestic subsidies for energy face public resistance and years of tight Western sanctions mean key fields are underdeveloped.

On top of logistical challenges, price will also be a sticking point. Iran would need to significantly lower its price expectations to undercut cheap Russian supplies. In the past, several Iranian gas-export talks with the United Arab Emirates, India and Turkey have failed.

And while the flagship Iran LNG plant is believed to be two years away from completion, there are doubts Iran will push ahead with the other two. Even if they do get political backing, Iran will need major investment in key technology to further develop its LNG sector.

Since the outbreak of the Ukraine crisis, the EU has been trying to diversify energy supplies and become less dependent on Russian gas. Mr. Cañete said Iran was an ideal future supply source, in part because even as tensions related to Iran’s nuclear work heightened over the last decade, Tehran didn’t cut shipments.

“Iran never used oil or gas as a political weapon. Never,” he said.

After the weekend visit, the road map for advancing ties with Iran has become clearer. The two sides will set up three energy joint working groups—on oil and gas, renewables and energy efficiency, and on electricity—to take detailed work forward. There will be at least one annual ministerial meeting.

They also agreed joint work on civilian nuclear projects, including advising Iran on stress tests for its facilities and some possible joint research work. Iran’s broader nuclear research work is restricted under last year’s nuclear agreement.

The next milestone will be a business forum on energy that Mr. Cañete hopes will happen early next year. The EU would take energy operators, policy makers and financial institutions to the forum to explore opportunities and tackle a key issue: the form of future energy contracts.

Iran has already made some changes to the types of contracts it offers foreign energy companies in a bid to hurry investments. However it is a politically sensitive issue in Iran, where there is resistance against giving broad rights to Western companies.

Mr. Cañete said that at a time of low and volatile energy prices, more-flexible oil contracts are indispensable. “We have to try to shape oil contracts…in a new form” to encourage EU companies to “come here, make investment upstream, midstream and downstream,” he said. “The contracts established must be fit for purpose.”

—Miriam Malek in London contributed to this article

Source :wsj.com

In the past few days, two Danish banks as well as an Austrian one have signed major finance deals with Iran to become the first two European countries in providing loans to Iran after the implementation of nuclear deal.

Denmark's Danske Bank signed a €500 million finance contract with 10 Iranian banks on Thursday, becoming the second European lender to ink such an agreement with Iran, after Austria’s Oberbank signed a major finance deal ceiling of €1 billion with 14 Iranian banks.

The move is significant as European banks are particular wary of doing business with Iran due to US sanctions. Iran is hoping that the measure would lay the groundwork for other European companies to take similar steps in the near future.

Danske’s contract has been signed with Saman Bank, Bank Mellat, Tejarat Bank, Bank Melli Iran, Bank of Industry and Mine, Bank Sepah, Bank Pasargad Iran, EN Bank, Bank Keshavarzi, and Parsian Bank.

Danske, founded in 1871 and headquartered in Copenhagen, is active in 16 countries in the world and in addition to banking services, it provides insurance and housing services as well.

Karsten Stroyberg, Head of Middle East & North Africa, Danske Bank, told reporters that the contract signed with Iran was an important step in facilitating trade with Iran, especially among the Nordic countries including Denmark, Sweden, Norway and Finland.

According to him, the contract makes financing bigger and long-term projects possible, thus making it a “great opportunity” for development of trade between Iran and the Nordic region.

The second contract signed between Iran and Denmark after months of negotiations is an MoU with EKF (Denmark's Export Credit Agency), which provides credit coverage and can finance Iran’s various projects, particularly projects related to infrastructure.

Speaking to reporters, Jørn Fredsgaard Sørensen, head of EKF’s Country, Bank and Sector Risk department, said the contract issues guarantees covering loans to Iranian companies. Under the contract, EKF will also make efforts to encourage Danish companies to do more business with Iran.

“Doing business with Iran is improving. At the moment, we have made a tunnel through the mountain. Next step will be to place a train on the railroad and keep it going through the tunnel,” he said.

Heinrich Matthee


Since the nuclear deal, European companies have been flocking in trade missions to Iran. These companies often also enjoy the support of national and regional governments from Germany and France to Italy or the Netherlands. However, their main obstacle at present is the lack of active support by their preferred financial lenders.
Several major European banks have stated that they are not prepared to do business in Iran at this stage. These banks include Germany’s Deutsche Bank, Zurich-based Credit Suisse Group and the U.K.’s Standard Chartered.
The considerable potential in Iran is as apparent to these banks as to European companies. The inhibitions of European banks are rooted in the USA. They remain scared of running afoul of remaining US sanctions on Iran.
Painful recent examples keep them alert to the potential drawbacks. BNP Paribas had to pay a record $9 billion US fine partly due to its dealings with Iran. The German Commerzbank agreed to pay $1.45 billion in 2015 in an investigation into whether it breached US sanctions against countries including Iran.
Thus, a major French bank like Société Générale indicated in May 2016 that it does not plan to restart activities in Iran given the “strong operational risks for financial institutions.” SWIFT, the global bank transactions network, has been reconnected to Iran, but remains dormant.
It will for now remain difficult to finance major projects and operations. European businesses will either have to find funders or the contracts will not be finalized. For smaller projects, European businesses may find lenders like the Belgian KBC and smaller German banks. Invoicing in Euro and other non-dollar denominations will remain advisable for some time.   
However, for bigger projects, the funding issue will remain and has now landed on the agenda of European economic diplomacy too.

Several European governments have started talks with U.S. authorities to get a commitment that banks can do business without incurring legal woes.
European trade diplomats indicate that there is progress but that it will take time to resolve all the issues. There have been tense US-Iran relations for almost a quarter-century. The financial issue clearly remains a bargaining chip for some US actors.
The US political position over the long term will also play a role in the reticence of some European banks. After all, the outcome of the US presidential elections in November and the actual policies of a new president remains unclear. These banks do not want to be caught in a new political minefield.
Thus, for major projects, the funding issue will take time to resolve. It will also remain important for many European companies to understand the ownership and control of their counterparts in Iran. External stakeholder and reputation management and embedding corporate governance standards in their operations remain on the agenda of many.
In this regard, a remark by Hans-Peter Rapp-Frick, the CEO of the German regional trade association SIHK, deserves attention. One of the biggest drivers of Iranian-European business ties is that Iran’s actors do not only want to conduct business, but that people also want to continue building something of value in Iran.  Despite current obstacles, Iran’s potential will continue to attract European business interest. Those businesses with a longer view, persistence and a commitment to Iranian society will have the greater chances for success.   

Dr. Heinrich Matthee is a director of JISR, an EU-based strategic advisory firm.

A senior official at Mobile Telecommunication Company of Iran (MCI) announced that foreign investors including the European ones say they are ready to cooperate with MCI Hamrahe Aval (First Operator).
Europeans interested to cooperate with Iran's cellphone operators
Abbas Nourbakhsh, deputy head of the MCI for the financial affairs, told reporters on Saturday that the two sides are reviewing the conditions.

Due to increase in the presence of the foreigners in the country, the use of roaming has also raised in Iran as the MCI has given necessary services, the official said.

'If those foreign investors buy the stocks here, we will not only cooperate with them inside the country, but also the ground will be prepared for us to be present and active in other countries,' he noted.

An Iranian official has announced that exports volume of Iranian Liquefied Petroleum Gas (LPG) hit 80 thousand tons in the first two months of the current Iranian year (began March 20).

Amir Vakilzadeh, Director of the Exports and Imports Office at National Iranian Oil Products Distribution Company (NIOPDC), stressed that “in the current year, no amount of liquid gas has been burned by domestic refineries.”

“All produced LPG inside the country has been deployed to foreign markets in the present year,” underscored the official adding “overall, more than 80 thousand tons of Iranian LPG were shipped to foreign countries in the first two months of the current year spanning from March 20 to May 20.”

Vakilzadeh pointed out that LPG exports are being undertaken via surface to neighboring countries as well as the sea to African countries by exploiting ISO tanks; “LPG exports volume reached 127 thousand tons in the previous year while more than 80 thousand tons have been exported only in the first two months of the current year.”

African countries like Kenya, South Africa and Tanzania have been purchasing Iran’s LPG over the past two years in the form of ISO tank container shipments.

CEO of the Iranian Gas Commercial Company (IGCC) Mohammad Ali Barati has recently maintained that gas exports volume will climb by 5000 tons following the implementation of new South Pars developmental phases; “Middle Eastern countries form the largest market for Iran’s LPG.”

An international group that monitors money laundering worldwide decided on Friday to keep Iran on its blacklist of high-risk countries but welcomed Iranian promises to improve and called for a one-year suspension of some restrictions on Tehran.
At a meeting of its 37 members in South Korea, the Financial Action Task Force also moved to keep North Korea on its blacklist and urged countries to be on guard against Pyongyang’s attempts to bypass sanctions to finance illicit weapons programs.
“The FATF welcomes Iran’s adoption of, and high-level political commitment to, an Action Plan to address its strategic (anti-money laundering and anti-terror financing) deficiencies,” the task force said in a statement.
“The FATF therefore has suspended counter-measures for 12 months in order to monitor Iran’s progress in implementing the Action Plan.”
The statement said that if Iran fails to improve its record as promised, the FATF’s call for vigorous counter-measures will be reinstated. If there is improvement, the task force will consider further positive steps.
The decision confirmed a Reuters story from earlier this week.
Iran has lobbied to get off the blacklist and is likely to treat the FATF announcement as a major victory. Tehran has complained it is not getting economic benefits promised it during last year’s negotiations on a nuclear deal with six major powers.
As a result of that agreement, many international sanctions against Iran were lifted. The United States, however, still has sanctions in place that prohibit trade with Iran in dollars and Iranian access to New York’s financial system. Banks remain wary of getting into trouble with US authorities.
“Practically speaking the FATF decision changes little since global financial institutions will continue to voluntarily implement strict counter-measures given their serious concerns over Iran’s illicit financial conduct,” said sanctions expert Mark Dubowitz of the Foundation for Defense of Democracies.
The FATF reiterated its appeal to countries around the world to “continue to advise their financial institutions to apply enhanced due diligence to (Iranian) business relationships and transactions.”

 Benefits
Getting off the FATF blacklist, which also lists North Korea, would remove a major hurdle Iran faces in dealing with outside banks and other financial institutions. Iranian and western officials have said that is why Tehran has been pushing hard to come off the list or at least to have the current FATF warning about it softened.
One Iranian official said prior to the meeting there had been multiple meetings between senior Iranian and European officials in recent months “to help Iran get off the blacklist.” He said the head of Iran’s central bank had discussed the FATF issue with US officials during a recent visit to the United States.
“We are very optimistic,” he said.
Iran has said criticism of its AML standards is unfair and contributes to the reluctance of major western banks and financial institutions to do business with it, despite encouragement from US President Barack Obama’s administration. Many large banks are disinclined to deal with Iran for fear of violating remaining US sanctions.
Since January, Iran has secured banking links only with smaller financial institutions.

  Business Concerns
Businesses are also wary about wading into Iranian waters until after the US presidential election in November.
“If (Donald) Trump becomes the next president, then he says he’ll tear up the Iran deal,” a European official said. “Hesitancy on the part of business is understandable.”
The US has sought to assure international companies that doing legitimate business with Tehran is acceptable. Last month US Secretary of State John Kerry told a meeting of bank executives in London that European banks should not fear punishment from the United States for resuming legitimate trade with Iran.
A European banking source, who was familiar with that meeting, said Kerry was told, “You may want the European banks to do business in Iran, but you do not let the US banks do so. The message to the politicians is that most banks still see too many risks.”

Iranian Communications and Information Technology Minister Vaezi who is visiting Finland met with Finnish FM Timo Soini on Tuesday in Helsinki.
“I hope that the upcoming visit of Finland’s president to Iran will be very effective in developing trade and economy cooperation between Tehran and Helsinki and in progression of relations,” reiterated Timo Soini, the Foreign Minister of Finland in his Tuesday meeting with Iran's Minister of Communications and Information Technology Mahmoud Vaezi who is heading a delegation of public and private sectors’ representative to Finnish capital city of Helsinki.

The Finnish minister who hailed Iran’s significant role in regional developments asserted that his country’s government will do anything at its reach to promote cooperation between the private and public sectors of the two countries.

The Iranian Minister Mahmoud Vaezi, for his part, in this meeting, referred to the new atmosphere created after the agreement of July 14, 2015 between Iran and 5+1 especially for EU members like Finland and called for Finnish companies’ re-evaluation of return to Iran as they had already held a share of the market.

“One of the best models to help Finnish companies return to Tehran is provision of financial, banking and credit services for prospective cooperation cases,” asserted Vaezi.

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Health system of the Islamic Republic of Iran backed by specialized manpower, knowledge of health, health care network and comprehensive plan of universal health coverage, has achieved upper position in the region approved by the World Health Organization. Iranian specialist and experts have the highest therapeutic technique. More than 95 percent of drug and nearly 50 percent of needed medical equipment are domestically produced.

We are pioneer in many areas in the region. In accordance with the Vision of the Islamic Republic of Iran in 1404, the General Policies of Health issued by the Supreme leader and actions taken by the government, the issues of improving the utilization of health services and achieving appropriate place in the region are prioritized. Accordingly, Health Transformation plan was designed and implemented. On the basis of the viewpoints of domestic and international observers, it has made to enhance public satisfaction from received services, particularly in the hospital sector.

Similar to the approach of the government, the Ministry of Health try not to extend public services and instead the need to use the private sector is highlighted. In this regard, the Ministry of Health and Medical Education welcomes foreign investment and participation of Iranian living aboard in the development of the health infrastructure. The main policy of the Ministry of Health and Medical Education is to purchase strategic services and provide sustainable resources.

To achieve international standard in health infrastructure, we need to provide more than one hundred thousand hospital beds, more than 600 projects on imaging equipment in different fields, 50 projects in the specialized hospital of cancer comprehensive therapy, 2800 dialysis beds and more than 3000 ground ambulances and 44 air ambulances. If the reconstruction of existing facilities is added to the volume of the needs, investment mark in Iran will be more expanded and reached over 25 billion dollars.

Investors note that the volume of needs is only to meet the health needs of the population of Iran. With regard to the population of 400 million people in the region, if the needs of health tourism and drug and medical equipment will be added to them, the need for investment will go far beyond. Our highly skilled manpower has provided very suitable conditions for investment in knowledge- based areas, especially in the health sector.

Worldbusinessyear (WBY)  team are pleased to inform that we are  planning to hold roadshow for different sectors in Iran .
    
 

TheFirst International Project Finance and Investment  Conference in Iran  recent suspension of certain sanctions against Iran and the expectation of subsequent suspensions is opening discussion about the current market situation in Iran and its future opportunities.
Companies around the world are eager to find out what the temporary relaxation of sanctions, in addition to the future expected lifting of sanctions, could mean for accessing the Iranian market. Join  Finance 2016:Iran , the leading Seminar offering breakout sessions by industry sector, to ensure you meet experts in the field and the people most relevant to you who will help you to identify and bridge opportunities for your business in a post sanction Iranian economy.
This is the only event in the Iran  that will provide you with to-date market intelligence on topics such as:
• The Political, Legal and Macro Economic Outlook
• Overview of Economic Sanctions; Sectors and Industries Affected by Recent Relaxation of Sanctions
• Opportunities and Challenges for Businesses
• Identifying a Market Entry Strategy – Geographical and Regulatory Framework for Setting up your Business
• Practical and Cultural Considerations of Doing Business in Iran
- See more at: http://www.worldbusinessyear.com
The WBY Iran Summit is the premium gathering for international investors, senior government officials and leading Turkish corporations.
The First annual WBY Iran Summit will examine the increasingly significant role of Iran  on the global stage, the positive shifts in the political and business landscape that are drawing international investors to its shores, and some of the challenges to expect along the way. 
Our speakers and audience will look at the impact and implications of new developments on the following fronts:
The Economic Front: At a time when much of the shine has worn off emerging markets, is Iran  more fragile than ever - or is it making the necessary changes?
The Corporate Front: What does Iran need to do to get the inward investment it needs?

Who should attend?
This highly informative and practical seminar is a must-attend for all who wish to learn more about the constantly changing environment with regards to doing business with and in Iran, as well as those interested in learning about “if”, “when” and “how” they can enter the Iranian market within the international requirements and regulations. The event is targeting C-level executives, In-House Lawyers, Corporate Strategy & Business Development Professionals in addition to service providers.
Job titles include: CEOs, Managing Directors, Managing Partners, General and Regional Managers, Head of Legal & Compliance, Directors, Advisers, Representative of International companies in Iran,Vice Presidents, Managers.
• CEOs;
• Chairmen;
• CFOs and Finance Directors;
• Managing Directors;
• Marketing and Sales Directors;
• Government; and
• Academia

Why attend?
• Join 300+ international investors, senior government officials and leading Iranian  corporates, and add your voice to the discussion shaping Iran’s future
• Immersive networking formats to facilitate conversations with lots of corporate peers facing similar challenges 
• Understand what Iran  needs to do to get the inward investment it needs
• Contextualize your business strategy with the latest thinking on the economic, political and corporate fronts
• Hear how the new administration plans to prepare for Iran's next growth mission
• Are Iran's 2025 goals out of reach? Find out what the experts think
• Be part of the conference social media buzz, and raise your company's visibility to a high-profile gathering - in the room, and beyond

Workshop A: Corporate Structures – Comparing Different Legal Entities in Iran
• Comparing setting up main land vs. free zones
• FIPPA (Investment Promotion and Protection Act)
• Type of companies, branch, representative, liaison office
• Looking Into Free Zones – which one is suited for your business?
• Looking into choosing the best local partner – a detailed look at criteria, selection and potential pitfalls
• Best corporate practices and culture
• Labor laws, employment of foreigners
• Corporate reporting and taxation
• Market research and due diligence

Exhibiting/ Partnership Opportunities
The Finance 2016: Iran Seminar – Economic Sanctions and What’s Next is bringing together senior executives from throughout the Gulf region interested in finding out more about the Economic Sanctions and future business opportunities in Iran.
If you want to:
• Promote a solution related to the industry
• Want to network with the decision makers
• Gain direct access to the market
• Demonstrate your products and services
• Increase your profile in the industry
• Generate qualified business leads for your team
The Finance 2016: Iran is the perfect platform!
We offer a wide range of options to suit your specific needs. These can include:
• Exhibition (distribute information about your company/services/products onsite)
• Brand awareness – ensure your logo is being prominently displayed in the extensive marketing campaign leading up to the event and onsite
• Reception or lunch sponsorship
• Speaking position – thought-leadership benefits in an interactive session
• Extensive (Global and Regional) marketing and PR coverage

Date :November 2016

For more information, please contact :This email address is being protected from spambots. You need JavaScript enabled to view it.

Worldbusinessyear (WBY)  team are pleased to inform that we are  planning to hold roadshow for different sectors in Iran .
    
 

The First International Project Finance and Investment  Conference in Iran  recent suspension of certain sanctions against Iran and the expectation of subsequent suspensions is opening discussion about the current market situation in Iran and its future opportunities.
Companies around the world are eager to find out what the temporary relaxation of sanctions, in addition to the future expected lifting of sanctions, could mean for accessing the Iranian market. Join  Finance 2016:Iran , the leading Seminar offering breakout sessions by industry sector, to ensure you meet experts in the field and the people most relevant to you who will help you to identify and bridge opportunities for your business in a post sanction Iranian economy.
This is the only event in the Iran  that will provide you with to-date market intelligence on topics such as:
• The Political, Legal and Macro Economic Outlook
• Overview of Economic Sanctions; Sectors and Industries Affected by Recent Relaxation of Sanctions
• Opportunities and Challenges for Businesses
• Identifying a Market Entry Strategy – Geographical and Regulatory Framework for Setting up your Business
• Practical and Cultural Considerations of Doing Business in Iran
- See more at: http://www.worldbusinessyear.com
The WBY Iran Summit is the premium gathering for international investors, senior government officials and leading Turkish corporations.
The First annual WBY Iran Summit will examine the increasingly significant role of Iran  on the global stage, the positive shifts in the political and business landscape that are drawing international investors to its shores, and some of the challenges to expect along the way. 
Our speakers and audience will look at the impact and implications of new developments on the following fronts:
The Economic Front: At a time when much of the shine has worn off emerging markets, is Iran  more fragile than ever - or is it making the necessary changes?
The Corporate Front: What does Iran need to do to get the inward investment it needs?

Who should attend?
This highly informative and practical seminar is a must-attend for all who wish to learn more about the constantly changing environment with regards to doing business with and in Iran, as well as those interested in learning about “if”, “when” and “how” they can enter the Iranian market within the international requirements and regulations. The event is targeting C-level executives, In-House Lawyers, Corporate Strategy & Business Development Professionals in addition to service providers.
Job titles include: CEOs, Managing Directors, Managing Partners, General and Regional Managers, Head of Legal & Compliance, Directors, Advisers, Representative of International companies in Iran,Vice Presidents, Managers.
• CEOs;
• Chairmen;
• CFOs and Finance Directors;
• Managing Directors;
• Marketing and Sales Directors;
• Government; and
• Academia

Why attend?
• Join 300+ international investors, senior government officials and leading Iranian  corporates, and add your voice to the discussion shaping Iran’s future
• Immersive networking formats to facilitate conversations with lots of corporate peers facing similar challenges 
• Understand what Iran  needs to do to get the inward investment it needs
• Contextualize your business strategy with the latest thinking on the economic, political and corporate fronts
• Hear how the new administration plans to prepare for Iran's next growth mission
• Are Iran's 2025 goals out of reach? Find out what the experts think
• Be part of the conference social media buzz, and raise your company's visibility to a high-profile gathering - in the room, and beyond

Workshop A: Corporate Structures – Comparing Different Legal Entities in Iran
• Comparing setting up main land vs. free zones
• FIPPA (Investment Promotion and Protection Act)
• Type of companies, branch, representative, liaison office
• Looking Into Free Zones – which one is suited for your business?
• Looking into choosing the best local partner – a detailed look at criteria, selection and potential pitfalls
• Best corporate practices and culture
• Labor laws, employment of foreigners
• Corporate reporting and taxation
• Market research and due diligence

Exhibiting/ Partnership Opportunities
The Finance 2016: Iran Seminar – Economic Sanctions and What’s Next is bringing together senior executives from throughout the Gulf region interested in finding out more about the Economic Sanctions and future business opportunities in Iran.
If you want to:
• Promote a solution related to the industry
• Want to network with the decision makers
• Gain direct access to the market
• Demonstrate your products and services
• Increase your profile in the industry
• Generate qualified business leads for your team
The Finance 2016: Iran is the perfect platform!
We offer a wide range of options to suit your specific needs. These can include:
• Exhibition (distribute information about your company/services/products onsite)
• Brand awareness – ensure your logo is being prominently displayed in the extensive marketing campaign leading up to the event and onsite
• Reception or lunch sponsorship
• Speaking position – thought-leadership benefits in an interactive session
• Extensive (Global and Regional) marketing and PR coverage

Date :November 2016

For more information, please contact :This email address is being protected from spambots. You need JavaScript enabled to view it.

Worldbusinessyear (WBY)  team are pleased to inform that we are  planning to hold roadshow for different sectors in Iran .
    
 

TheFirst International Project Finance and Investment  Conference in Iran  recent suspension of certain sanctions against Iran and the expectation of subsequent suspensions is opening discussion about the current market situation in Iran and its future opportunities.
Companies around the world are eager to find out what the temporary relaxation of sanctions, in addition to the future expected lifting of sanctions, could mean for accessing the Iranian market. Join  Finance 2016:Iran , the leading Seminar offering breakout sessions by industry sector, to ensure you meet experts in the field and the people most relevant to you who will help you to identify and bridge opportunities for your business in a post sanction Iranian economy.
This is the only event in the Iran  that will provide you with to-date market intelligence on topics such as:
• The Political, Legal and Macro Economic Outlook
• Overview of Economic Sanctions; Sectors and Industries Affected by Recent Relaxation of Sanctions
• Opportunities and Challenges for Businesses
• Identifying a Market Entry Strategy – Geographical and Regulatory Framework for Setting up your Business
• Practical and Cultural Considerations of Doing Business in Iran
- See more at: http://www.worldbusinessyear.com
The WBY Iran Summit is the premium gathering for international investors, senior government officials and leading Turkish corporations.
The First annual WBY Iran Summit will examine the increasingly significant role of Iran  on the global stage, the positive shifts in the political and business landscape that are drawing international investors to its shores, and some of the challenges to expect along the way.
Our speakers and audience will look at the impact and implications of new developments on the following fronts:
The Economic Front: At a time when much of the shine has worn off emerging markets, is Iran  more fragile than ever - or is it making the necessary changes?
The Corporate Front: What does Iran need to do to get the inward investment it needs?

Who should attend?
This highly informative and practical seminar is a must-attend for all who wish to learn more about the constantly changing environment with regards to doing business with and in Iran, as well as those interested in learning about “if”, “when” and “how” they can enter the Iranian market within the international requirements and regulations. The event is targeting C-level executives, In-House Lawyers, Corporate Strategy & Business Development Professionals in addition to service providers.
Job titles include: CEOs, Managing Directors, Managing Partners, General and Regional Managers, Head of Legal & Compliance, Directors, Advisers, Representative of International companies in Iran,Vice Presidents, Managers.
• CEOs;
• Chairmen;
• CFOs and Finance Directors;
• Managing Directors;
• Marketing and Sales Directors;
• Government; and
• Academia


Why attend?
• Join 300+ international investors, senior government officials and leading Iranian  corporates, and add your voice to the discussion shaping Iran’s future
• Immersive networking formats to facilitate conversations with lots of corporate peers facing similar challenges
• Understand what Iran  needs to do to get the inward investment it needs
• Contextualize your business strategy with the latest thinking on the economic, political and corporate fronts
• Hear how the new administration plans to prepare for Iran's next growth mission
• Are Iran's 2025 goals out of reach? Find out what the experts think
• Be part of the conference social media buzz, and raise your company's visibility to a high-profile gathering - in the room, and beyond

 

Workshop A: Corporate Structures – Comparing Different Legal Entities in Iran
• Comparing setting up main land vs. free zones
• FIPPA (Investment Promotion and Protection Act)
• Type of companies, branch, representative, liaison office
• Looking Into Free Zones – which one is suited for your business?
• Looking into choosing the best local partner – a detailed look at criteria, selection and potential pitfalls
• Best corporate practices and culture
• Labor laws, employment of foreigners
• Corporate reporting and taxation
• Market research and due diligence


Exhibiting/ Partnership Opportunities
The Finance 2016: Iran Seminar – Economic Sanctions and What’s Next is bringing together senior executives from throughout the Gulf region interested in finding out more about the Economic Sanctions and future business opportunities in Iran.
If you want to:
• Promote a solution related to the industry
• Want to network with the decision makers
• Gain direct access to the market
• Demonstrate your products and services
• Increase your profile in the industry
• Generate qualified business leads for your team
The Finance 2016: Iran is the perfect platform!
We offer a wide range of options to suit your specific needs. These can include:
• Exhibition (distribute information about your company/services/products onsite)
• Brand awareness – ensure your logo is being prominently displayed in the extensive marketing campaign leading up to the event and onsite
• Reception or lunch sponsorship
• Speaking position – thought-leadership benefits in an interactive session
• Extensive (Global and Regional) marketing and PR coverage

Location :Tehran, Iran

Date :November 2016

For more information, please contact :This email address is being protected from spambots. You need JavaScript enabled to view it.

Morteza Mirmohammadi Wrote in Financial Tribune  Daily Newspaper that Iran’s first venture capital trust to get listed, will open for underwriting on Iran Fara Bourse on Monday, says Lotus Parsian Investment Bank’s chief executive.


Iran’s dip into the world of private equity is accelerating, as the public is allowed to buy investment units in venture capital trusts, which in turn invest in small tech companies and foster them.

Venture capital funds are a pillar of modern finance. They raise capital from wealthy investors and invest in risky startups. Later, they sell their equity in ventures that succeed.

However, VCTs, a British innovation, raise their money from investors through capital markets with less restriction on investors.

In the UK, £458 million were invested into VCTs in the 2015/16 tax year, according to figures compiled by the Association of Investment Companies.

A venture capital trust is designed for individual investors to gain access to investments via the capital markets. Its mandate is to seek out potential venture capital investments in small unlisted firms to generate higher than average risk-adjusted returns for its investors.

Lotus Parsian’s CEO Ali Teymouri Shandi said Rouyesh Lotus will be the first of its kind to offer its investment units to the public, the initial phase of which will take about a week from Dec. 19 to 25.

Teymouri hopes to raise 105 billion rials ($2.6 million at market exchange rates) for Rouyesh Lotus during the underwriting period from investors on IFB and 350 billion rials in the next six months.

The VCT will invest in healthcare, biotechnology and financial technology.

Rouyesh Lotus has strong ties with Royan Institute, which is one of the fund’s principal investors, and will fund research for cures to blood and breast cancer, diabetes, arthritis and deep wounds and burns, according to Securities and Exchange News Agency.

Royan Institute is dedicated to biomedical, translational and clinical researches.

  VCT Regulations

VCT regulations were finalized by SEO in August, according to which, IFB will create a separate board to list them. The new regulations and procedures have been designed to garner more support for Iran’s small base of startups. It is part of a government objective to expand “knowledge-based economy” with the ultimate goal of diversifying the Iranian economy away from oil.

Based on regulatory requirements by the Securities and Exchange Organization, the VCT has to keep 30% of its investment capital in cash. This will help the fund’s liquidity and ability to take advantage of opportunities but is likely to diminish its returns.

According to IFB CEO Amir Hamouni, a group of four called the “Venture Capital Review Committee” has been formed to review applications for setting up VCTs.

The group will have three voting members. The head of the committee will be appointed by SEO. IFB’s board will appoint the second member. The IFB will also pick a Venture Capital specialist as the third member who is also approved by the SEO. An IFB executive will be chosen as the fourth member of the committee, and will act as the committee’s secretary.

As is evident from the makeup of this committee, SEO intends to keep it under its full control just like it treats TSE and IFB.

 

 Oxford Business Group reported that The lifting of trade sanctions and moves to open the Iranian economy to foreign direct investment have seen a number of international car manufacturers queue up to break into the country’s rapidly expanding automotive industry.

Iran’s automotive industry currently accounts for nearly 10% of the country’s GDP, the largest non-oil contributor, according to press reports.
JV to boost production

In late September France’s Renault announced it had finalised an agreement to create a joint venture (JV) with state-owned Industrial Development and Renovation Organisation of Iran (IDRO) to expand the company’s existing presence in the local market.

Under the terms of the JV, in which Renault has a majority stake, the car manufacturer will establish a new plant with an initial production capacity of 150,000 units per year, adding to its current 200,000-unit capacity in the country. The plant is expected to come on-line within two years, and Renault will also be authorised to set up its own distribution network, including sales and after-sales dealers.

Mohammad Reza Nematzadeh, minister of industry, mines and trade, said the deal was part of a broader government initiative to expand and strengthen the automotive industry’s product offerings.

“The Iranian government wants to attract foreign investment in the Iranian car industry to bring competitive new products benefitting Iranian customers with respect to standards, quality and safety,” Nematzadeh said when the agreement was signed.

For its part, Renault is looking to expand its footprint to become the third-largest producer in Iran – behind Iran Khodro (IKCO) and SAIPA, both subsidiaries of IDRO –according to a statement made to industry media by Bernard Cambier, senior vice-president and chairman of the Africa-Middle East-India region at Renault. Currently, Renault has cooperative deals with both firms for the production of Renault-designed passenger vehicles.
Citroën re-enters the market

The Renault deal comes as fellow French manufacturer Citroën looks to regain its position in the Iranian market, after pulling out of the country in 2012.

In early October Citroën’s parent company, Groupe PSA, signed a JV agreement with its former partner, SAIPA, to produce Citroën vehicles at a new plant in Kashan.

Under the 50:50 agreement, the partners will invest more than €300m in manufacturing and research and development capacity through to 2021, with production of three Citroën models to begin in 2018. Imports of Citroën vehicles will commence next year ahead of direct production.

SAIPA officials have said locally sourced parts and supplies will account for 35% of production when assembly begins, rising to 70% by 2020.

The French firms’ expansion plans drove up share values on the Tehran Stock Exchange’s automotive index in the first week of October, pushing the index up by 8.4%, contrasting with a 0.2% dip on the all-share board.
Queuing up

Manufacturers from further afield are also looking to establish a presence in the Iranian automotive industry.

During President Hassan Rouhani’s visit to Kuala Lumpur in early October, Malaysian Prime Minister Najib Razak said Malaysia was looking to boost economic cooperation between the two countries, with the automotive sector being one of the key areas targeted.

“Iran has imported 12,000 Proton Saga [cars] in the past and we hope to participate in the automotive industry, particularly as [a] supplier,” Najib said.

Germany is similarly eyeing a slice of Iran’s vehicle market. In early October Sigmar Gabriel, Germany’s vice chancellor and federal minister for economic affairs, and Ali Tayebnia, Iran’s minister of economic affairs and finance, signed a series of memoranda of understanding to boost economic cooperation across a number of sectors, including automotive, finance, energy and infrastructure.

While final details of what form the automotive cooperation will take have yet to be released, the agreement demonstrates Germany’s intent to challenge the rising presence of French brands already on the ground in Iran.

One German-owned brand that has already announced plans to begin exports to Iran is Volkswagen’s Czech manufacturer Skoda, with Bernhard Maier, CEO of Skoda, saying in late September that the firm was aiming to target sales in both Iran and South Korea.
Leading the way

The international interest is timely, with Iran seeing an upswing in production.

Last year domestic output stood at just under 885,000 passenger vehicles and around 97,500 commercial vehicles, according to the International Organisation of Motor Vehicle Manufacturers. While most of the production was geared towards meeting local demand, some units were exported, mainly to countries in the MENA region.

Production has accelerated further in the first half of this year, with nearly 580,000 vehicles – including 534,000 passenger cars and a mix of buses, pick-ups and trucks – rolling off assembly lines since March 20, the beginning of the Iranian calendar year, representing a 15.6% year-on-year increase, according to press reports.

The MENA market is expected to see strong growth over the next five years, with Iran set to be among the leaders in terms of expansion, according to PwC’s “2016 Auto Industry Trends” report. Demand in the Iranian market is expected to more than double to 2m vehicles by 2020, according to estimates made by industry stakeholders.

Issued in October, the report said that expansion in MENA will also help offset projected deceleration in some other established and developing markets, such as Russia, Brazil and the US.