Non-oil exports represent only 11% of GDP, in line with other oil exporting countries, but are low compared to upper middle-income states that on average export 24.2% of GDP, reflecting the legacy of import substitution, a reliance on domestic markets and the comparatively low share of oil exports to GDP reflects Iran's relatively large and diversified economy.
The Iranian rial fell to a record-low on Monday, breaking through the 50,000-to-the-dollar mark for the first time, with analysts blaming uncertainty stemming from Washington. The rial has lost around a quarter of its value in the past six months to reach 50,860 against the US dollar according to the Financial Information Market, a trusted website for fluctuations on the open market.
When the 1979 Islamic Revolution in Iran took place, its overriding objective was social justice achieved through helping the poor and ensuring political freedom. However, after almost four decades, the income of low-wage earners nationwide has plummeted as the wealthy have grown wealthier.
Academic research on Iranian managers is scarce, mainly because of the lack of business ties with foreigners and longstanding international sanctions. Relatively little is known about how Iranian managers, particularly those at smaller enterprises, perceive business collaboration with outsiders. In order to address this knowledge gap, we have conducted a major survey among Iranian managers in the industrial sector.
ehran Mayor Mohammad Ali Najafi has asked polish investors and companies to take part in smart city projects in the Iranian capital, Fars reported on Wednesday. Najafi made the remarks in a joint economic forum held during his four-day trip to the Polish capital with Warsaw Mayor Hanna Beata Gronkiewicz-Waltz.
I ran and Italy will on Thursday sign a framework credit agreement worth €5 billion whereby Rome will help Italian companies invest in Iran, an Italian Treasury source said on Wednesday. The accord foresees the opening of lines of credit to two Iranian banks by Invitalia, an Italian state-owned holding, in order to finance investment projects by Italian companies, the source said.
Following the implementation of the Joint Comprehensive Plan of Action (the formal name of Iran’s nuclear accord with world powers) that helped Iran’s banking system resume correspondent relations with foreign lenders, Bank Day has taken measures to make the most of this opportunity, the bank’s CEO announced.
Government officials and investors all agree that Iran needs to improve its business climate to attract the needed investment for job creation. One of the phenomena that can help ease the process of doing business is the country’s customs organization.