Iran after the nuclear agreement – Is the euphoria justified?

Iran after the nuclear agreement – Is the euphoria justified?

"We are hoping for a better future, when international companies return to Iran, invest in us and generate prosperity". We hear this sentence almost every day in our talks with Iranian managers, officials, workers, consumers and people on the street. The Iranian economy fell into a veritable recession following the intensified economic sanctions and local mismanagement. High inflation, rising unemployment, a lack of investments and international isolation put an obvious strain on the Iranian standard of living. Since Rohani administration has taken office, however, there was a slight recovery even before the agreement in the nuclear talks – the economy grew in 2014 by 2% - and now all signs point to investment, expansion, re-integration into the global economic system and an opening of the market. 

What opportunities does Iran have to offer?

For several weeks now, highly-ranking international economic delegates have been streaming in and out of the country's economic realm. The interest in business with and in Iran is enormous. Yet how attractive is the Iranian market really for foreigners, especially for German companies? And what specifics need to be observed; what problems should companies be prepared to face? Iran's population of approximately 78 million people, who have accumulated a huge "consumption backlog" (and whom primarily international markets covet), have turned the country into a massive potential for consumer goods and service providers. In addition, producers of capital goods and infrastructure can look forward to a giant pent-up demand for products and investments. Eighty percent of Iranian industrial facilities are obsolete  and must be replaced, the infrastructure needs to be modernized, tourism developed and the financial system brought to the state of the art, to name just a few industrial sectors. Today, several sectors are dominated by local companies that can hardly keep up with international competition in their current state, with obsolete factories, processes and management systems.

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