Oil + Gas E1:R2

◢ Growth in exports has been sustained, rising to 2.5 m/bdp. But challenges in marketing and financing Iran oil trade may limit exports in the near term. 

◢ The Ministry of Petroleum unveiled the long-awaited IPC contracts, but amendments were quickly made to address a flurry of criticism

Real Estate E1:R2

◢ Recovery is not beginning to reach the middle of the housing market, and encouraging activity can be seen both demand-side and supply-side 

◢ The number of construction permits is still down 25.1% y-o-y but continues to increase at a steady pace each month

Mining + Metals E1:R2

◢ Copper production is beating expectations, and NICIC should expect to see healthy profits this year

◢ State mining conglomerate IMIDRO is set to receive a USD 3 billion loan from the National Development Fund to support further exploration

Automotive E1:R2

◢ SAIPA and Citroen deal heralds new chapter for Iran's auto industry, but underlying technology transfer is the same as in previous IKCO/Peugeot deal 

◢ The government has approved usance letters of credit to help automakers manage cash flow in the absence of long-term financing

Banking + Insurance E1:R2

◢ Debt owed by Iranian banks to the Central Bank rose over the last two months, an uptick that went against the annual trend

◢ Bank reserves grew 10.4% y-o-y, with increasing deposits as individuals seek to take advtantage of interest rates before pending reductions

Renewables + Utilities E1:R1

◢ Iran has ambitious plans to boost solar and wind power generation, but improving efficiency in energy consumption will be equally important to bringing new capacity online

◢ A looming water crisis is making investments in new water management technologies an absolute priority for the government

Petrochemicals E1:R1

◢ Iran is seeking to complete the value chain and export more final goods in the petrochemical sector

◢ An ambitious investment program aims to nearly triple production by 2025, but foreign investment will be needed to reach these targets

Healthcare E1:R1

◢ Iran's ability to deliver primary care and preventative medicine is strong, but an aging population will create demand for chronic disease treatments and therapies

◢ The pharmaceutical market is expected to see significant growth rising from USD 2.4 billion in annual sales in 2015 to USD 4.2 billion in 2021

Mining and Metals E1:R1

◢ Iran plans to become one of the world's top 5 iron ore producers with 180 million metric tons produced each year. 

◢ The coal industry is set for consolidation as struggling coal producers lose domestic market share to cheaper imports.

Oil + Gas E1:R1

◢ Iran's surprisingly rapid recapture of oil market share has stalled, and new investment will be needed to drive production levels higher and improve marketing and export 

◢ The country is seeking to expand natural gas exports beyond regional neighbors through investment and access agreements to LNG infrastructure

Real Estate E1:R1

◢ Iran's housing market is showing signs of recovery, boosted by new financial incentives on offer from Iranian banks

◢ The Rouhani administration must ensure housing supply increases in-step with demand, limiting inflationary pressure

Banking + Insurance E1:R1

◢ The Rouhani administration is pursuing an expansionary monetary policy, trying to free up capital from the banking sector through lower interest rates and lower reserve requirement

◢ However, many Iranian banks are carrying a high load of toxic debt, and the Central Bank of Iran needs to be careful not to destabilize banks through its policies 

Automotive Industry E1:R1

◢ The acquisition of Bahman Automotive by Crouse is a major move within the trend of auto industry privatization

◢ New interest rates are expected to boost demand from car-buyers as banks begin to offer new and more attractive financing options, including leasing.