Turkish companies could play major role in Iran, says businessman

“We have seen huge competition among global businesses to take a larger share in the Iranian market in the post-sanctions era. Turkey was always with Iran in the sanctions era. Turkish businesspeople may have a leading position in the Iranian market,” said Reza Kami at the Uludağ Economy Summit in the northwestern province of Bursa on March 26. 

He noted significant changes have already taken place in Iran for the good, devoid of tensions and sanctions. 
“A fertile ground for business and investment has been established in Iran. Today’s economic conditions are quite different than they had been earlier. The country is connected to other countries again and wants to lure new investments and the latest technologies,” added Kami. 

The Iranian state has supported the private sector and taken crucial steps to improve the business environment, remove obstacles before the establishment of business and pave the way for a competitive and transparent economic system in a bid to attract foreign companies, he noted. 

Kami added that around 4.6 million young people will graduate from Iranian universities in the forthcoming period and start to seek jobs in the country, which is expected to grow 8 percent in line with the economic development program. 

“In order to able to reach these growth and development figures, billions of dollars of investment is needed, mainly by foreign companies… Turkey may take a leading [role] here… There is especially great potential in some sectors, such as petrochemicals, textiles, automotive, logistics, transportation, packaging, steel manufacturing and energy,” he said, adding that over $15 billion of investment is forecasted to renew the country’s outmoded infrastructure.