“Chance of a Century”: International Investors Flock to Tehran

Investors and businesses, particularly major oil and gas companies, are descending on Iran, hoping to profit from 80 million people, many of whom are eager to engage in international commerce. Iran has the world’s fourth largest oil reserves and the second largest gas reserves, and the nation’s equipment requires updating and renovations. Western sanctions, imposed on Iran’s nuclear program, have paralyzed the economy, and inflation has eroded wages. Spiegel Online describes the activities of the German-Iranian Chamber of Industry and Commerce in Tehran which “paves the way for business ties in a country where Western politicians have been trying for decades to make such relationships impossible, especially since 2006,” reports Susanne Koelbl. The chamber’s leader, Daniel Bernbeck, suggests that most Iranians want peace and trade, while conservatives remain mistrustful. Bernbeck adds that conservatives may pull back from blocking peace deals if they can benefit from the business deals. – YaleGlobal

“Chance of a Century”: International Investors Flock to Tehran

With a landmark deal on Iran’s nuclear program, many Iranians are hoping for an end to sanctions; western companies are also gearing up do big business
Susanne Koelbl
Monday, January 6, 2014
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