Archive | Investment

Iranian, Dutch FMs Discuss Closer Ties

Iranian Foreign Minister Mohammad Javad Zarif and his Dutch counterpart, Sigrid Kaag, exchanged views about a range of issues, including ways to promote bilateral relations between the two countries in diverse political and economic fields. Meeting in Tehran on Wednesday, the two sides discussed the latest regional and international developments and explored avenues for the […]

Iran to Withdraw from JCPOA If Benefits Remain Elusive

Iran will withdraw from the 2015 nuclear deal, known as the Joint Comprehensive Plan of Action (JCPOA), if there is no economic benefit and major banks continue to avoid cooperation with the Islamic Republic, the deputy foreign minister said on Thursday. Under the deal with Britain, China, France, Germany, Russia and the United States, Iran […]

Iran Attracts $10bn in Foreign Investment Post-JCPOA

Iranian Minister of Industry, Mine and Trade Mohammad Shariatmadari said the country has managed to attract $9.7 billion in foreign investment since the coming into force of the 2015 nuclear deal with six world powers, known as the Joint Comprehensive Plan of Action (JCPOA). Addressing a festival held in Tehran in support of the country’s […]

Iran, Azerbaijan Relations Warm Up after Years of Frost

By Saeid Jafari for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. The collapse of the Soviet Union in 1991 was followed by the independence of several states in the Caucasus, including the Republic of Azerbaijan. While the newfound Azerbaijani state has not enjoyed warm ties […]

France to Urge Firms to Do Business in Iran

France will encourage its firms to do business in Iran despite nuclear deal limbo, a senior French finance official said on Thursday. “France will encourage its firms to do business in Iran” despite uncertainty over the landmark 2015 nuclear deal putting the business environment in limbo, Joffrey Celestin-Urbain, director of bilateral relations at the French […]

Speaker Requests Iran’s Help in Reconstruction of Iraq

Iraqi Parliament Speaker Salim al-Jabouri praised Iran for supporting the Arab country in the fight against terrorism, calling for Tehran’s continued assistance and partnership in the reconstruction and development of Iraq. In comments at a Sunday meeting in Iran’s Baghdad embassy, held to mark the victory anniversary of the Islamic Revolution, Jabouri expressed the hope […]

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Rouhani orders Armed Forces to Sell all Business Assets

By John Lee. Bloomberg quotes President Rouhani as saying that Iran’s armed forces, the largest state pension fund, and other branches of the government, must withdraw from all their commercial holdings to help save the economy. Rouhani said: “Not only the Social Security Organization but all government sectors, including banks, have to divest their business holdings, […]

Austrian Bank to Finance Iranian Nuclear Hospital

By John Lee. Austria’s Oberbank will reportedly provide $248 million to finance the construction of Iran’s first nuclear hospital. According to a report from Healthcare Global, the new facility will house up to a thousand beds and will be one of the largest of its kind in the Middle East, providing world-class radiotherapy services. Once […]

JICA to Finance two Iranian Power Plants

By John Lee. The Thermal Power Plants Holding Company has reportedly signed an agreement with the Japan International Cooperation Agency (JICA) for two power plants in Iran. Managing Director Mohsen Tarztalab said the agreement covers the Shahid Mofateh and Shahid Rajai power plants. He added that JICA’s estimated facilities for the two plants is $800 million. […]

Revival of Silk Road to Serve Iran’s National Interests

Head of Iran Chamber of Commerce, Industries and Mines Gholam Hossein Shafei said the revival of the ancient intercontinental Silk Road trade route could serve the Islamic Republic’s national interests. Addressing a meeting of the International Conference of Asian Political Parties (ICAPP) in Tehran on Saturday, Shafei pointed to the initiative of the Silk Road […]

Iran “in Talks” to Purchase Daewoo Appliances

Entekhab Industrial Group, Iran’s largest home appliances maker, appears likely to buy South Korean appliance manufacturer Dongbu Daewoo Electronics, a report said. NH Investment & Securities Co., the South Korean lead manager, has been in talks with Entekhab’s consortium with the aim of signing a stock purchase agreement by the end of this month, they […]

Will Brexit jump-start Iran-UK trade?

By Maysam Bizaer for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Many foreign companies returned to Iran’s largely untapped market after the signing of the Joint Comprehensive Plan of Action (JCPOA) in July 2015. The landmark deal took effect six months later, and lifted international sanctions in […]

Chinese Direct Investment in Iran up 20%

By John Lee. The General Manager of the Iranian Investment Organization has said China’s direct investment in Iran has increased by 20 percent. Mohammad Khazaei told the Iran and China Investment and Business Opportunities Forum that Chinese companies have invested $2.3 billion in Iran since 2013. The Deputy Minister of Economic Affairs and Finance added […]

$260m needed to Complete Major Refinery Project

A member of the Iranian parliament says the country will need an investment of 260 million dollars to complete the Bandar Abbas Gas Condensate Refinery. Head of the parliament’s energy committee Fereydoon Hassanvand said with 36,000 ml/d of gasoline production capacity, the project will turn Iran into an exporter of gasoline, generating considerable revenues. “But […]

Rouhani moves to Loosen IRGC Grip on Economy

By Mohammad Ali Shabani, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Rouhani moves to leverage unrest to loosen IRGC grip on economy In the aftermath of the recent protests in Iran, public announcements about a concerted effort to get the Islamic Revolutionary Guard Corps (IRGC) […]

Iran to Expand Ties with Cuba

By John Lee. President Hassan Rouhani said on Saturday that Iran is ready to boost ties with Cuba in various economic fields, particularly in the science and energy sectors. Iran and Cuba are two revolutionary countries that enjoy very good relations, Rouhani said, adding that the Islamic Republic “was determined to deepen ties with the […]

Trump Extends Nuclear Deal “for Last Time”

By John Lee. The United States is to extend sanctions relief for Iran for another 120 days. In a statement, President Donald Trump said: “Despite my strong inclination, I have not yet withdrawn the United States from the Iran nuclear deal. Instead, I have outlined two possible paths forward: either fix the deal’s disastrous flaws, […]

New US Sanctions on Iran: Full Details

The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated 14 individuals and entities in connection with serious human rights abuses and censorship in Iran, and support to designated Iranian weapons proliferators. “The United States will not stand by while the Iranian regime continues to engage in human rights abuses and injustice.  […]

€260m Loan for Major Refinery Project

The National Development Fund of Iran (NDFI) will be tapped for a 260-million-Euro loan for completing the remaining phases of Bandar Abbas Gas Condensate Refinery Project, an official said. Managing Director of the National Iranian Oil Refining & Distribution Company (NIORDC) Alireza Sadighabadi said on Sunday that the refinery must reach full productivity by March […]

Official Denies China’s Ban on Investment in Iran

Head of Iran-China Joint Chamber of Commerce denied reports about the Chinese government’s ban on investment in Iran, saying more and more investors from China are visiting Iran for business activities. In an interview with Tasnim on Saturday, Asadollah Asgaroladi pointed to the rising number of Chinese delegations visiting Iran to weigh investment opportunities, saying […]