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City of London

Iran Rising - Prospects for Business

05 Jul 2016
Business prospects in Iran

On 5th July the IoD City of London branch partnered with Arabia Monitor to hold a timely and fascinating discussion of the risks and opportunities presented by the Iranian market as sanctions look set to be lifted and frozen assets released.

Iran is the last major untapped frontier for business to open to international finance. With the injection of frozen assets into Tehran’s coffers, plus the country’s huge opportunities for growth and geostrategic location along the Silk Road Economic Belt linking Beijing to Europe, the prospects are favourable.

Iran ranks as the 27th largest economy in the world with a GDP of £282bn*, a population of 80m and growth expected to exceed 4%* in 2016. Businesses eye huge opportunities beyond oil, to include other sectors such as tourism, mining, banking, automotive and the aircraft industry. But the outlook is not without risks – the chance of a hardliner government winning the next election, insecurity in the MENA region, oil price volatility and delays in structural reforms all pose concerns.

The event examined how major economies and businesses were reacting to the trade opportunities, as well as Iran’s ambitions, the impact of the latest developments, such as oil market volatility as well as Iran’s rising power in the region. Attendees also described experiences of doing business in Iran, both positive and more challenging.

Speakers included Dr. Florence Eid-Oakden, Chief Economist at Arabia Monitor, Charlie Robertson, Chief Economist at Renaissance Capital, Amir-Ali Amiri, an entrepreneur and investor in Iran and Sue Millar, partner and co-head of the Iran and financial litigation groups at Stephenson Harwood. The event was also kindly hosted by law firm Stephenson Harwood.

View event photos

(*Source: Arabia Monitor)

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