The impact of sanctions on Project Opportunities
New Project Opportunities in Iran after Sanctions are today’s hot business and investment topic in B2B forums, are you ready for it?
Sanctions against Iran were lifted on Sunday January 17th, 2016, which is considered as a victory for the entire global community and a record breaking peace deal. Many believe that the embargo was imposed on Iran due to its’ interest in Nuclear Technology, but the main reason for this long battle was to convince Iranians to join the World Trade Organization. This is the era of New Project Opportunities in Iran after Sanctions, since Iranians were in western countries for four decades and tasted the bitter hardship of 12 years of sanctions.
Although most of the sanctions were related to financial, transportation, and Oil Industry; Iran suffered difficulties in acquiring western technologies in all industries due to hardship caused by sanctions on swift bank transactions. Therefore, Iran had to acquire most of its needs either from Eastern Block or at a higher cost and lower quantities thru countries such as Turkey and UAE. Now that the embargo is lifted, there are many new project opportunities in Iran after Sanctions for western businesses.
Why this matter to us PMPs ?
Can we hope New Project Opportunities in Iran after Sanctions ?
As project managers, we know that any business opportunity could be looked at as a project management opportunity. Iran’s economy offers considerable economic opportunities for Western companies. The country is home to nearly 80 million people and is the world’s 17th most populous market. Iran will benefit from lifted sanctions that are currently keeping more than $100 billion in assets frozen. But, as Iran presents a large potential foreign market with consumer expenditures this year expected to be over $170 billion, it is not just the Iranians who will benefit. (source: Investopedia) According to the British consultancy BMI Research, demand for computers, games machines, and mobile phones will increase from $9.5bn to $13bn by 2020. Anticipating a lifting of sanctions companies – including Hewlett-Packard, General Electric, Apple and Lenovo – have all been exploring retail opportunities in Iran. (Source: Aljazeera)
So it is time to think “out of the box”, what is your specialty or connections that would benefit from this opportunity?
Are there services and products that you feel could be exported and gain a good market share in Iran at early stage?
Do you need connection and project partners in Iran to explore your plans and implement your projects?
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