Iran`s Shifting Business and Industry

Posted on Posted in Business Guidelines

Iran used to be an excluded economy with multiple financial and investment opportunities  which seemed faded in the shade of deadly sanctions. Investment and export rates were so low that even most optimistic economy analyzers were pessimistic on Iran`s unclear economic future. There was a period of recession in almost all commercial aspects of the country.

In spite of all these external and domestic barriers to progress and welfare, Iran relied on its always-saving resource, petroleum. Fortunately, the price of petroleum was on increase and surged to an unprecedented amount (120$ each barrel). The high value of petroleum in these years compensated deficiencies in other sections. As a result, Iranians enjoyed a high rate of welfare compared to other countries with the same conditions.

Recently many changes occurred in economy, politics and business. Nuclear negotiations opened some new ways to new opportunities which planted the seeds of hope in the hearts of Iranian youth generation. Although the price of petrochemical products decreased dramatically, removal of several important sanctions led to a relative prosperity.

Iran`s government has recently paid a lot of attention to transportation system. Employing new vehicles and improving the quality of roads, airports, train stations and national and international ports are some of these measures. Another important act in this regard is facilitating import/export processes. There used to be many paperwork at Iran`s customs both for importers and exporters. Recently, many awards and bonuses are considered especially for exporters. Many believe Iran is going to experience a boom in its economy as some of important sanctions are lifted. Although there are still sanctions on Iran`s growing business, banking sanctions which restricted Iran`s progressing trade are now removed. What really matters is that Iranian officials are taking measures toward merging with international business standards which seem promising for all Iranians and will lead to the welfare of society.  

Iran always experiences a fluctuating business and industry due to foreign hostilities. Many economists believe Iran is an intact region which may be so much beneficial and fruitful for all those businesses which first enter into the country. There are vast resources which may be fully utilized if there be proper technology and equipment. Although starting a business may seem a bit difficult for start-ups in Iran due to official processes and internal strict regulations, those who pass these processes and establish their office in Iran are definitely future winners.

Iran is going to have presidential election in May which is a significant event in all aspects of the country. Hopefully the one who is capable of achieving great prosperity for the country will be elected and makes a big difference. By the way, no matter who comes up, Iran is on the road to great economical enlightenment and will go on for a long long time.


FAR Law Firm

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