ICG Publishes Results of Iran Business Attitude Survey

Belgium-based research organization International Crisis Group has commissioned a survey of more than 60 senior managers with direct responsibility over Iran business at leading international companies.

The initial cohort includes 63 respondents, who anonymously fielded their results between Dec. 20, 2017, and Jan. 5, 2018.

The survey was administered via a computer assisted web interview and included 42 questions. All questions were optional. Individuals were invited to participate on the basis of their senior position at a company pursuing commercial opportunities in Iran.

While respondents included executives at a range of companies, half of those surveyed work at organizations with 10,000 or more employees globally, among them leading global energy, automotive, mining, technology, chemicals, consumer goods and pharmaceutical companies.

Respondents were drawn from companies headquartered in 19 countries, working across 18 sectors. The survey results were supplemented with interviews of several respondents to gather further qualitative insights.

According to ICG, business leaders are crucial stakeholders in realizing the economic dividends from the nuclear deal Iran signed with world powers in July 2015, otherwise known as Joint Comprehensive Plan of Action, and thus in determining its fate.

The results, further developed in the following graphs, show that:

- 79% of surveyed businesses delayed plans to enter the Iranian market in the past two years.

- 57% cited as the primary reason for their delay fear of existing US sanctions or snapback of the nuclear ones.

- 11% point to difficulties of doing business in Iran as the reason for their slower than anticipated market rollout.

- 50% say Trump’s failure to recertify the Iran deal in October negatively affected their decision to engage the Iranian market.

- 63% believe that JCPOA can potentially survive if the US unilaterally withdraws from it.

- 54% say a European Union move to reinstate the “blocking regulations” to shield European companies against unilateral US sanctions, while Iran remains committed to the deal, would positively affect their decision to invest in Iran.

The transnational non-profit, non-governmental organization International Crisis Group founded in 1995 gives advice to governments and intergovernmental bodies like the United Nations, European Union and World Bank on the prevention and resolution of conflicts.

ICG combines field-based analysis, policy prescription and advocacy with key roles being played by senior management and board members. The group raises funds from mainly western governments, charitable foundations, companies and individual donors.