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All in Economy
◢ A prospective détente between Iran and the West is dependent not only on the normalization of political ties but also on the realignment of economic ties. It is a matter of political economy.
◢ In order to envision the future role of Iran’s private sector, it helps to look to the past and the historical role of the bazaar, once the center of Iranian political economy.
◢ Bank account closures of British-Iranian citizens underline the deep fear among banks of Iran-related transactions.
◢ Successful sanctions relief will depend on a concerted effort to raise the comfort level of banks with the compliance and regulation around Iran business.
◢ Iran’s commercial opening represents the world’s greatest strategic communications challenge. Both the general public and the business community worldwide continue to understand Iran through unfavorable stereotypes.
◢ Conferences can play a critical role in helping address this communications problem among companies and individuals.
◢ In a post-sanctions world, Iran’s workforce can benefit from new employment opportunities and a revitalized labor market.
◢ Foreign companies seeking to enter Iran will likely poach some of the best talent to run country operations. With this increased competition, Iran’s corporate sector will need to change their approach to human resources.
◢ Access to finance is crucial for Iran's economic reboot, but Iran's markets are still ill equipped to accept new foreign capital.
◢ New securities need to be created in order to attract investors to Iran with a better risk/reward profile.
◢ The new year holiday has Iranians hoping for a brighter future and more prosperous household.
◢ At the same time, the nuclear negotiations underway in Lausanne are the source of great hope, but also trepidation for Iran's bankers.
◢ Ensuring a potential nuclear deal remains a robust and lasting agreement will require commitments from stakeholders beyond the currently engaged diplomats.
◢ The business community in Iran and the West can play an important role in “stewarding” a nuclear deal.
◢ Given the immense excitement around the potential lifting of sanctions, it might seem that Iran is opening to the West for the very first time.
◢ But Iran’s history of engagement with Western corporations dates back to the 16th and 17th centuries and history has important lessons for those seeking to enter Iran today.
◢ Iran Khodro (IKCO) announced the re-entry of its French partner PSA Peugeot Citroen into the Iranian automobile market through a new joint venture.
◢ The deal will see 30 percent of jointly produced cars in Iran exported to regional markets. As Iran Khodro’s managing director Hashem Yekke-Zare emphasized, the deal promises to create a regional auto manufacturing hub in the Persian Gulf.
◢ Iranian consumers already have access to the latest gadgets from the world's leading brands. What they lack are easy shopping experiences and after sales support.
◢ Global technology companies needs to go beyond marketing and brand appeal to win over Iranian consumers through customer service.
◢ Twitter is a popular platform among pundits, analysts, journalists, and politicians who work on Iran-related issues.
◢ Many of these individuals can be useful points of information to help augment traditional business intelligence practices with a critical awareness of key issues as they develop.
◢ In most countries, central bankers wield immense influence over the economy through their monetary policy.
◢ The Central Bank of Iran has struggled to secure the power and independence of its foreign equivalents, hindering economic planning and growth.
◢ Iran has spent decades pursuing self-sufficiency across major industries in what has been called a “resistance economy.”
◢ This development strategy must change if the country is going to attract much needed foreign direct investment post-sanctions.
◢ Managing risk is a key part of an Iran market entry strategy.
◢ There are four major categories of risk to consider: commercial, legal, political, and reputational.
