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Chinese Car Manufacturers to Supply Spare Parts to Iranian Companies

According to local media reports, Iranian and Chinese car manufacturers are negotiating over providing car spare parts to Iran-based companies. The recent rounds of sanctions on Iran’s economy have made many troubles for Iranian car manufacturers. Currently French companies are unable to sell spare parts to car manufacturers of Iran due to economic embargoes. “The officials and managers of Iran Khodro and S ...

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Moghadam Calls for Massive Changes in Iran’s Insurance Industry

Javad Sahamian Moghadam, Managing Director of Bimeh Iran, says the Iranian government should apply massive changes in domestic insurance industry in the hope of securing private-held companies’ interests. The current competitions between private and governmental insurance companies have led to an unfair contest. “Unfortunately, the positions of state-owned and private-held insurance companies have not yet d ...

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Iranian Businessmen to Start Investing in Industrial City of Sulaymaniyah

In 2010, Iranian and Iraqi governments agreed to open a dedicated industrial city in Sulaymaniyah. It was announced that an Iranian private company will start building the consented industrial city in Iraq. Adel Gooyeli, an Iranian trader who was involved in building this industrial city, said on Saturday that more Iran-based companies will start investing in this project. “After almost five years, Sulayman ...

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Iran’s Dates Exports to be Reduced Due to High Demand of Domestic Markets

As the demand for high quality Iranian dates have been increased in domestic markets, Iran’s dates exports will be reduced significantly in coming months in compare to last year. Mohammad Sadegh Hamidian Jahromi, the Vice President of Iran's National Date Forum, announced on Wednesday that local producers are distributing dates in domestic markets due to high demands. “In this year, we observe hike in dates ...

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Iraqi Basra and Iran’s Khuzestan Provinces Sign Economic Cooperation Agreement

According to the Governor of Basra, Dr. Majid Mahdi Al-Nasrawi, Khuzestan and Basra have signed new agreements to increase and reinforce the current economic cooperation. Khuzestan and Basra are the two strategic provinces of Iran and Iraq for exporting oil and gas products to other countries. “We have managed to sign several agreements with Iranian side in the hope of increasing the current cooperation bet ...

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Almost 25% of Iranian Businesses do not Pay Income Tax

Ali Askari, head of the National Tax Administration of Iran, announced on Wednesday that almost 25% of businesses in Iran do not pay income tax. Currently, petrochemical industries of Iran represent about 20 percent of gross domestic product (GDP). “At the being time, Tax-To-GDP ratio in Iran is less than 7.6%. The average ratio of T/GDP is around 17% in world, while the same number in developing countries ...

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Central Bank of Iran Controls the Prices of Essential Goods

Last week, Iranian government announced that it will no longer import essential goods using subsidized currencies. Local economists say that this kind of measures will increase the prices of basic items in domestic markets. However, the government has rejected these claims and criticisms. Mahmoud Bahmani, the Governor of Central Bank of Iran (CBI), said on Tuesday that the government will monitor markets cl ...

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Seat Occupancy Rates of Iranian Airlines are Less than 70%

As Iranian airlines have increased the prices of tickets, the number of people using these airlines has been decreased significantly. This has affected the revenues of tour operators and local airlines directly. Mohammad Hossein Pourmanesh, a tour manager based in Tehran, says Iranians are reluctant to use local airlines for their travels to other countries. “As the prices have been changed, many people pre ...

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Foreigners Reluctant to Invest in Iran’s Petrochemical Projects

The recent rounds of international sanctions on Iran’s economy have directly affected the bilateral ties of foreign-based companies with Iranian petrochemical industry. Accordingly, a large number of foreign companies have stopped investing in Iran’s oil and gas industry. These companies have decided to invest their moneys in Qatar’s gas fields. In early 2000s, more than 100 foreign banks and foreign compan ...

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Mehdi Ghazanfari: Iranian Competition Council Failed to Control Domestic Car Market

In recent months, the prices of different types of homemade cars have been increased dramatically in Iran. Consequently, the Iranian government ordered Competition Council to control domestic car market in country. After a few months, Competition Council managed to announce the fixed prices for local-manufactured cars. Iranian Minister of Industries, Mines and Trade Mehdi Ghazanfari said on Friday that Comp ...

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