Ireland Eyes ICT Investment in Iran

An Irish state economic development agency, Enterprise Ireland, has announced interest in making investment in Iran’s information and communications technology sector.

Mohammad Reza Talaei, the head of ICT Commission of Iran Chamber of Commerce, Industries, Mines and Agriculture, said talks were held between the chamber’s officials and representatives of Enterprise Ireland during GITEX 2017.

ICCIMA, 12 local knowledge-based companies and 29 startups represented Iran in the GITEX event held in Dubai on Oct. 8-12.

Four Iranian startups were able to make their way into GITEX Startups’ final contestants but did not win the prize.

Talaei said Iranian startups and knowledge-based businesses present at GITEX caught the eyes of Enterprise Ireland’s representatives.

“On Nov. 27-28, an Irish delegation headed by the country’s Minister of State for Trade, Employment, and Business Pat Breen will visit Iran. Enterprise Ireland’s representatives will accompany the minister,” he said.

Twenty-five Dublin-based ICT companies will be part of the delegation visiting Tehran.

Breen is set to hold talks with Minister of Communications and Information Technology Mohammad Javad Azari Jahromi over expansion of bilateral ties in the ICT sector.

Talaei noted that along with setting up businesses in Iran, making joint investment and collaborating with local businesses, Enterprise Ireland is aiming to tap into other regional markets, particularly Afghanistan and Iraq.

“The agency is also keen on investing in Iranian startups,” he said.

Enterprise Ireland provides funding support for startups and export assistance. In addition to several offices in the Americas, the EU and Africa, the agency is active in nine Middle Eastern countries, including the UAE, Kuwait, Oman, Bahrain, Lebanon and Qatar.

Earlier in July, the agency held a one-day conference in the Irish capital Dublin to survey Iran’s post-sanctions investment opportunities. The event covered several fields, including oil, gas, petrochemicals, automotives, ICT and startups.

Dubbed “Doing Business with Iran”, the event provided participants with an overview of business opportunities in the country.

According to local government officials, Ireland is one of the largest foreign investors in Iranian industries. Two months ago, the country invested $466 million in Iran’s mining sector.