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    Ministry signs agreement to support Oman’s honey industry

    Ministry signs agreement to support Oman’s honey industry

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    Local, Italian companies partner up to establish food retail chain in Egypt

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    Egypt’s agriculture minister stresses importance of boosting intra-regional trade cooperation among African states

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    Azerbaijan, Iraq discuss prospects of relations

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    Oman inks pack to bolster role of SMEs in food systems

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    MAFWR, Port of Duqm sign MoU

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      Egypt’s Trade minister, Hungarian ambassador discuss economic relations

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      Turkey eyes $5bn bilateral trade with Qatar

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      Deal signed to set-up first factory in Qatar to assemble electric vehicles

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      Railway line to be built between Mosul, Turkey: governor of Nineveh

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      Foundation stone laid for new 700-bed hospital is Salalah, Oman

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      Iraq set to award new Faw Port deals

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      Egypt implements 164 service and development projects at LE4.8 billion in North Sinai

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      Miral’s premier Abu Dhabi waterfront project work on track

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      Aecom wins Neom utilities infrastructure design contract

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        Investments in renewables in Egypt reach LE6 bn: Official

        Investments in renewables in Egypt reach LE6 bn: Official

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        Egypt signs 8 gas exploration contracts worth $934mn over 15 months

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        JGC lands $3.7bn Iraq refinery upgradation project deal

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        Tadweer opens phase 2 of solar power plant at Al Dhafra

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        France to help Iraq generate electricity, will invest in education, science: Macron

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        Acwa Power inks finance deals for 900MW Dubai solar park

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          Coronavirus: UAE conducting human trials for Covid-19 vaccine

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          Egyptian COVID-19 drug to be on market in two weeks: Health Ministry

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          UAE sends medical aid to Iraq to fight COVID-19

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          UAE launches phase III trial of inactivated Covid vaccine

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          COVID-19 vaccine could be available by autumn: Oxford University

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          Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

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          Saudi to be among world’s big leisure tourism hubs by 2030

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          Qatar’s hospitality sector peaks despite turbulent 2020

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          Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

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          Staycations to stimulate Qatar’s hospitality sector

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          Quarantine rule to give a boost to Qatar’s hospitality industry in Q3: CWQ report

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          Ministry signs agreement to support Oman’s honey industry

          Ministry signs agreement to support Oman’s honey industry

          Local, Italian companies partner up to establish food retail chain in Egypt

          Local, Italian companies partner up to establish food retail chain in Egypt

          Egypt’s agriculture minister stresses importance of boosting intra-regional trade cooperation among African states

          Egypt’s agriculture minister stresses importance of boosting intra-regional trade cooperation among African states

          Azerbaijan, Iraq discuss prospects of relations

          Azerbaijan, Iraq discuss prospects of relations

          Oman inks pack to bolster role of SMEs in food systems

          Oman inks pack to bolster role of SMEs in food systems

          MAFWR, Port of Duqm sign MoU

          MAFWR, Port of Duqm sign MoU

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            Egypt’s Trade minister, Hungarian ambassador discuss economic relations

            Egypt’s Trade minister, Hungarian ambassador discuss economic relations

            Turkey eyes $5bn bilateral trade with Qatar

            Turkey eyes $5bn bilateral trade with Qatar

            Iraq set to award new Faw Port deals

            Iraq set to award new Faw Port deals

            Deal signed to set-up first factory in Qatar to assemble electric vehicles

            Deal signed to set-up first factory in Qatar to assemble electric vehicles

            Railway line to be built between Mosul, Turkey: governor of Nineveh

            Railway line to be built between Mosul, Turkey: governor of Nineveh

            Local, Italian companies partner up to establish food retail chain in Egypt

            Local, Italian companies partner up to establish food retail chain in Egypt

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            Madayn working on major Oman industrial city projects

            Foundation stone laid for new 700-bed hospital is Salalah, Oman

            Foundation stone laid for new 700-bed hospital is Salalah, Oman

            Iraq set to award new Faw Port deals

            Iraq set to award new Faw Port deals

            Egypt implements 164 service and development projects at LE4.8 billion in North Sinai

            Egypt implements 164 service and development projects at LE4.8 billion in North Sinai

            Miral’s premier Abu Dhabi waterfront project work on track

            Miral’s premier Abu Dhabi waterfront project work on track

            Aecom wins Neom utilities infrastructure design contract

            Aecom wins Neom utilities infrastructure design contract

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            • Energy
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              Investments in renewables in Egypt reach LE6 bn: Official

              Investments in renewables in Egypt reach LE6 bn: Official

              Egypt signs 8 gas exploration contracts worth $934mn over 15 months

              Egypt signs 8 gas exploration contracts worth $934mn over 15 months

              JGC lands $3.7bn Iraq refinery upgradation project deal

              JGC lands $3.7bn Iraq refinery upgradation project deal

              Tadweer opens phase 2 of solar power plant at Al Dhafra

              Tadweer opens phase 2 of solar power plant at Al Dhafra

              France to help Iraq generate electricity, will invest in education, science: Macron

              France to help Iraq generate electricity, will invest in education, science: Macron

              Acwa Power inks finance deals for 900MW Dubai solar park

              Acwa Power inks finance deals for 900MW Dubai solar park

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                Coronavirus: UAE conducting human trials for Covid-19 vaccine

                Coronavirus: UAE conducting human trials for Covid-19 vaccine

                COVID-19 vaccine could be available by autumn: Oxford University

                GSK to develop plant-based COVID-19 vaccine with Canada’s Medicago

                Egyptian COVID-19 drug to be on market in two weeks: Health Ministry

                Egyptian COVID-19 drug to be on market in two weeks: Health Ministry

                UAE sends medical aid to Iraq to fight COVID-19

                UAE sends medical aid to Iraq to fight COVID-19

                UAE launches phase III trial of inactivated Covid vaccine

                UAE launches phase III trial of inactivated Covid vaccine

                COVID-19 vaccine could be available by autumn: Oxford University

                COVID-19 vaccine could be available by autumn: Oxford University

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                Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

                Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

                Saudi to be among world’s big leisure tourism hubs by 2030

                Saudi to be among world’s big leisure tourism hubs by 2030

                Qatar’s hospitality sector peaks despite turbulent 2020

                Qatar’s hospitality sector peaks despite turbulent 2020

                Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

                Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

                Staycations to stimulate Qatar’s hospitality sector

                Staycations to stimulate Qatar’s hospitality sector

                Quarantine rule to give a boost to Qatar’s hospitality industry in Q3: CWQ report

                Quarantine rule to give a boost to Qatar’s hospitality industry in Q3: CWQ report

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              Iran: $25bn of Foreign Investment Attracted in Four Years

              Financial Tribune

              October 30, 2017
              in Finance
              0
              Iran attracted $24.95 billion in foreign investments from Sept. 23, 2013, to Sept. 22, 2017, the director general of the Ministry of Industries, Mining and Trade’s Foreign Investment Office said.
               
              Afrouz Bahrami added that the figure accounts for less than 2% of all the FDI made worldwide during the period, Hamshahri Online reported.
               
              According to the report, Germany, China, Turkey, Austria, the UAE and France were the biggest investors in Iran during the period under review.
               
              The most attractive industries for foreign investors in Iran were polymer and chemicals, steel, trade, motor vehicles, mining, plastic and medical devices.
               
              Alborz, Tehran, Khorasan Razavi, Fars, West Azarbaijan, Kerman, Zanjan and Qazvin were the most attractive Iranian provinces for foreign investments during the period.
               
              As per the Sixth Five-Year Development Plan (2017-22), the government needs to attract at least $50 billion annually in foreign investment (direct, finance or joint investment) plus 5,800 trillion rials ($145 billion) in domestic investment to achieve an 8% economic growth.
               
              This is while the country managed to absorb only $3.37 billion in FDI in 2016, accounting for 0.19% of total global investment ($1,780 billion).
               
              According to Bahrami, monopolistic and rent-seeking practices in Iran’s economy, plus corruption, weak economic indices, the government-run structure of the economy, lack of proper infrastructures for investment and lack of effective advertizing, are the main challenges in the way of absorbing foreign investment.
               
              Referring to the fact that the Iranian law obligating dispute settlements between foreign investor and government to be resolved in local courts is against international norms, Bahrami said, “We are still witnessing subjective interpretation of rules and regulations, and the lack of a clear legal procedure to support foreign investors and entrepreneurs.”
               
              On the plus side, Iran has been described as the best emerging market for years to come. Despite its years of relative isolation, Iran remains the 18th largest economy whose productive capacity and consumer markets have huge potential.
               
              According to management consulting firm McKinsey, 56% of Iran’s households have an annual income exceeding $20,000.
               
              The country’s population is young (60% are under 30), urbanized, well educated (possessing high rates of literacy and enrolment in tertiary education), technically proficient (boasting the world’s fastest growth of scholarly scientific outputs and the fifth highest numbers of students graduating from engineering degrees) and entrepreneurial.
               
              Iran is also blessed with natural advantages. The country possesses the world’s largest natural gas and the fourth largest oil reserves. Although petrochemicals account for 80% of the country’s exports and around a third of government revenues, its economy is much more diversified than many of its regional counterparts.  
               
              Significant exports of fruits and nuts, cement, plastics and other chemicals reveal the proficiency of the country’s farmers and manufacturing enterprises.
               
              In fact, reintegration into the global economy is expected to revitalize the automobile, pharmaceutical, mining and tourist sectors.
               
              “Iran’s location, including sea channels on its northern and southern coasts and borders with seven countries straddling Europe and Asia, makes it convenient to play the role of a regional entrepot, especially given China’s enthusiasm for a New Silk Road aimed at reviving ancient trading routes between the two continents,” Richard Woodward, senior lecturer at Coventry Business School in the UK, said.
               
              The bulk of FDI attracted during the four-year period came after the January 2016 implementation of the nuclear deal Iran signed with world powers a year earlier.
               
              Financial Tribune
              30 October
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