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Iran’s Industrial Partners
Domestic Economy

Iran’s Industrial Partners

Iranian industries managed to secure a total of $1.78 billion in foreign resources in the last Iranian year (March 2015-16).
The Ministry of Industries, Mining and Trade statistics also show that envoys from 17 countries, namely the Netherlands, Afghanistan, Italy, China, Tunisia, the UAE, Germany, Bosnia and Herzegovina, Turkey, Canada, France, India, Iraq, South Korea, Japan, Austria and Ireland, visited Iran to weigh up the investment prospects in the country’s various industries.

  The Netherlands
Visits by three Dutch delegations culminated in two investment agreements in the industrial sector, the Persian daily Donya-e-Eqtesad reported.
One is a $71.12 million contract on production of cigarettes and cigarette filters in the northern province of Gilan and the other is a milk powder production project worth $9.4 million in Khorasan Razavi Province.

  Afghanistan
A single visit by Afghan envoys produced eight contracts in different sectors. The contracts include a $1.37 million agreement on granite stone cutting in Khorasan Razavi Province; a steel, cast iron and aluminum recovery project in Markazi Province with an estimated investment of $1.5 million and a $1.2 million project on production of dried fruits, packaging of saffron flower, pulses, rice, nuts and spices in Khorasan Razavi.
Also, the two neighboring countries signed a deal on making machine-woven carpets with an investment of $1.2 million as well a men’s clothing manufacturing project worth $1.96 million both in Isfahan.
The sixth bilateral contract that requires $900,000 is about production of hinges and wrought iron in Khorasan Razavi.
Contracts on manufacturing truck cabins, beds, fenders and other parts valued at $3 million and a $2.11 million agreement on manufacturing washing machines, stoves, coolers, water heaters and vacuum cleaners both in Khorasan Razavi were also signed by the Afghan and Iranian investors.

  China
Six investment deals were signed by seven Chinese delegations in Iran. One of this deals centers on manufacturing structural steel framing, overhead cranes and concrete molds with an investment of $3.4 million in East Azarbaijan Province.
The second one concerns manufacturing car engine rocker arm in Alborz Province, about $2.84 million for which have been envisioned.
A project on production of sponge iron briquette in Zanjan worth $14.49 million; a paper and cardboard production project with an estimated investment of $3.76 million in Khorasan Razavi; a tile and ceramic project worth $3.2 million in Yazd; and a $3.5 million project on manufacturing turbine blades in Khorasan Razavi were the contracts signed by Chinese businesses.

  Italy
The largest trade delegation with 360 business figures travelling to Iran last year came from Italy. They managed to cut a couple of deals. An investment agreement worth $1.1 million on making yogurt and cheese starter cultures in Khorasan Razavi was inked between Iran and Italy. The second agreement is about manufacturing melting and casting machinery, around $15.94 million will be allocated to this Alborz-based project.

  Tunisia
The North African country sent two trade delegations to Iran last year. The fruit of their visits was a contract on manufacturing industrial machines for producing tomato paste, compote, canned food, fruit and vegetables in Alborz Province. About $2.36 million will be allotted to this project.

  The UAE
Although the UAE did not send any delegation to Iran, it managed to strike two investment deals with the country last year. Production of hormone vials and recombinant medicines in Iran was one of the contracts signed by the UAE, Germany and India. The projected investment for this contract is $37.73 million and it will be carried out in Alborz. The Iranian province will also absorb an investment of $79.37 million on “boosting investment through partnership in shared capital”.

  Bosnia and Herzegovina
The Balkan country did not dispatch any delegations to Iran but did manage to clinch an investment deal worth $838,000 to manufacture elevator guide rail (a device to direct products, vehicles or other objects through a channel) in Tehran.

  Turkey
Turkey sent seven trade delegations to Iran last year and signed five bilateral contracts. Steel radiator production worth $2.47 million in East Azarbaijan and a $218,000 project on “making doughnut dough, ready and semi-ready foods and different types of food improvers” in West Azarbaijan was signed by Iranian and Turkish businesses.

  Canada
Last year Iran and Canada signed an investment deal worth $5.66 million in Semnan, despite the fact that the North American country did not send any trade envoys to Iran.

  France
Two French delegations headed to Iran last year and inked as many contracts with businesses located in Tehran. The first agreement is on production of chocolates and coffee; around $1.22 million will be invested in this project. Manufacturing passenger cars is the second deal by the French who will put as much as $95.97 million into this project.
  India
Four Indian delegations travelled to Iran last year and signed two deals: a $21.37 million contract on production of ferrosilicon in West Azarbaijan (Maku Free Trade Zone) and a $9.71 million venture on making reinforced concrete in Qom Salafchegan Special Economic Zone located in central Iran.

  Germany
Twelve German delegations who visited Iran last year signed three agreements. The first, which will be jointly carried out by Germany, the UAE and the Netherlands, is on production of different types of metallurgical silicon, including single crystal silicon and solar panels. The projected investment hovers around $1.87 billion and will be launched in Fars Province. Germany will also conduct a project on production of perlite worth $1.13 million in Khuzestan Province.

  Ireland
Ireland clinched a $2.27 million deal with Iran on production of permanent mold casting of concrete structures in West Azarbaijan, although no Irish delegation travelled to Iran last year.

  Iraq
Finally, Iraq sent as many as 11 delegations to Iran last year but they only managed to bag a single deal on production of various types of double- and triple-layer hose, different types of metal clamps, metal connectors, excluding flanges. The $292,000 project will be conducted in West Azarbaijan.

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