ICBC, Business relations between Canada and Iran
Iran: report on a promising market
Iran Business Ecosystem
The seminar at a glance
The Chamber of Commerce of Metropolitan Montreal’s Acclr experts in international trade are pleased to invite you to a seminar on business opportunities in Iran on February 14. The seminar will be a chance to take stock of the current situation in Iran and learn about the various facets of the country, such as its business culture, legal and fiscal framework and sectors with business potential.
The seminar on Iran is a unique opportunity to:
- Evaluate the potential for developing your business in the country.
- Network with other Québec companies interested in the Iranian market.
- Benefit from advice from speakers who specialize in this market.
The second largest Middle Eastern economy with a GDP of $419 billion in 2016, Iran has a young, educated population. Over 60% of its people are under age 30. Iran represented a market of 80.3 million inhabitants in 2016 and saw annual GDP growth of 6.4% that same year, according to the World Bank. The country is growing rapidly and is a profitable business destination.
Interesting facts about the country and its priority sectors:
- Iran has four major priority sectors of interest: agriculture and agri-food, life sciences, pharmaceuticals and infrastructure.
Learn more about Iran’s leading sectors:
- Agriculture and agri-food:
There is strong growth in demand for specialized, diverse food products. There is a serious need for modernization in agricultural equipment and increased productivity, due to a shortage of arable land and water.
- Health and life sciences:
According to Griffon Capital, the local government has made significant investments of over US$3 billion in hospitals. Almost 50 cancer, dialysis and medical imaging centres are also under development.
Foreign investment needs over the next five years are an estimated US$17 billion.
This sector represented US$1.9 billion in Iran in 2015, with a compound annual growth rate of 5.5%, according to BMI Research.
Iran has slowed its production of advanced medication due to a technology shortage. Imports in this sector represented only 5% of market volume, but accounted for 38% of its global value.
- Infrastructure and construction:
Despite major investments by the Iranian government, such as an annual US$7 billion in water infrastructure, there are needs in the areas of ports, rail transport, airports and hospitals.
Who should attend the seminar
The seminar on Iran will interest companies that want to develop their business in Iran or learn more about the market.
More specifically, the seminar is for businesses in the following sectors:
- Agriculture and agri-food
- Oil and natural gas
- Chemicals and petrochemicals
- Health and life sciences
- Infrastructure and construction
- Medical equipment
- Pharmaceutical products
- Mines and metals