World Business Year

Iranian Minister of Industry briefed MPs on the actual outcomes of the visits of 791 officials together with 2045 private companies to Iran following the implementation of the JCPOA.

In an open session of the Parliament on Tuesday, Mohammad Reza Nematzadeh, Minister of Industry, Mine and Trade, presented the MPs with a report on the current status of industries, challenges and strategies in line with the implementation of Resistance Economy policies.

He maintained that following the implementation of Iran nuclear deal, six presidents and 791 officials accompanied by 2045 private companies from 32 countries across the world visited Iran, and 68 governmental MoUs and 119 foreign contracts have been signed since then.

12 industrial projects with foreign investment worth $501 million were approved by the country’s Foreign Investment Board. He went on to add that SWIFT is currently running and the number of participants from foreign companies in Tehran’s international exhibitions has had an increase of about 30 per cent.

The minister further noted the launch of negotiations over the joining of Iran to the World Trade Organization (WTO), saying 60 countries have backed Iran’s membership.

According to Nematzadeh, Iran ranks 74 among 144 countries in global competitiveness, while it holds the 67th place among 142 countries in industry.

He described Iran’s ranking in human development – 69 among 188 countries – as acceptable, saying the ranking indicates high education, work experience and talents among Iranians.

In business, Iran ranks 117 among 189 countries, which shows relative improvements compared to the 152nd ranking three years ago, he added.

Nematzadeh further noted that Iran has the worst ranking and index of Economic Freedom – 171 among 186 countries – which speaks of too many restrictive regulations in the country. He called on the new Parliament to make necessary improvements in this regard.

Published: 07 June 2016

Iran Khodro Company is in talks with India's Tata Motors to set up a joint venture for assembling its gasoline cars in Iran, as Tata looks to tap the fast growing market that has just emerged from sanctions.
Tata Motors is talking with the Iranian car manufacturer for a joint venture to assemble knocked down units of the gasoline versions of its models, including the latest compact car Tiago, Bolt and Zest, which are powered by the company’s new Revotron gasoline engines, sources said in Tehran.
Knocked down version of the cars will be imported and assembled at Iran Khodro’s manufacturing facility after adding local contents like tires and batteries, The Hindu Business Line reported.
Tata Motors will use Iran Khodro’s sales network to sell the cars.
The branding will be of Tata Motors and Iran Khodro will be just a contract manufacturer, they said, adding that Tata Motors will start assembling in Iran in less than two years.
Initially, Tata Motors is looking at 100,000 cars a year, which will be gradually ramped up.
Production at the factory, which may be located in suburban Tehran and Masad, is slated to begin by 2018.
Iran Khodro had earlier this year renewed its partnership with French manufacturer PSA Peugeot Citroen.
Iran Khodro Company (public joint stock) was founded in August 1962. Starting with contract manufacturing of sedan Paykan for British firm Rootes in 1966, it has manufactured for France’s Peugeot as well as the Tondar 90 sedan (Renault Logan). It manufactures several Chinese models now.
Peugeot had earlier this year signed a contract with Iran Khodro to start a joint venture that will make three new models. Its January 2016 deal marks its return to Iran after a four-year absence.
Iran Khodro, which is 14%-owned by the Iranian government, was Peugeot’s former partner before the French company’s decision to shut down its operations in 2012 in the wake of international sanctions.
Before 2012, Peugeot would send parts, which then were assembled in Iranian plants.

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Published: 23 May 2016

The second edition of “Project Iran” international exhibition and the 23rd International Exhibition of Detergent, Cleanser, Hygienic, Cellulous Products and Machinery of Iran titled “Iran Beauty and Clean 2016” opened on Sunday at the Tehran International Permanent Fairgrounds.

In “Project Iran” exhibition, for the construction materials, more than 360 foreign companies are exhibiting. This is the first international exhibition in Iran in which only foreign companies are present and it does not involve any domestic participants, according to the Islamic Republic of Iran Broadcasting (IRIB).
In this exhibition representatives of Armenia, Germany, Italy, Austria, Spain, Britain, the United Arabic Emirates, Jordan, Belgium, Bulgaria, China, Croatia, the Czech Republic, Denmark, France, Greece, Lebanon, Hungary, South Korea, the Netherlands, Poland, Portugal , Russia, Switzerland, Romania, Tunisia, Taiwan, Sri Lanka, Nigeria, Serbia, Malaysia, Malta, India, Turkey are exhibiting.
It is also scheduled for a number of local and foreign delegations to visit the event which will wrap up on April 27.
Meanwhile, “Iran Beauty and Clean 2016”, which is the largest exhibition of its kind in the Middle East, is also being held for 4 days at the same venue.
More than 200 domestic companies and 145 foreign companies are showcasing their latest products, equipment and services in the exhibition.
Representatives from 14 countries, including Turkey, Germany, China, France, Italy, Spain, United Arabic Emirates, Malaysia, the Netherlands, Pakistan, Austria, India, Russia and South Korea constitute the participants of this international event.
These events will bring thousands of leading manufacturers, exporters and industry professionals from all over the world to share a common vision and shape what will become the next regional economic giant, while at the same time offering them a guaranteed access to Iran’s multibillion dollar market.