neWs: middle east
hopeS riSe for iran Thaw
By David Craik largest and most strategic countries
The prospects of an easing in in the Middle East with excellent
relations between Iran and the fundamentals. The population is
West are at their highest since the over 70 million and over 60% of
Islamic revolution 30 years ago, the population are under the age
potentially opening up one of the of 30. Iran is also one of the most
largest untapped markets in the untapped markets for most sectors
Middle East. including consumer, industrial
products and services.”
The current level of foreign
investment in Iran is around $10bn,
mainly in the energy sector, but
more is needed. “The estimated FDI
needs in energy are around $300bn
for the next 10 years without which
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the oil and gas sectors will suffer,”
andenBer
said Razzaghi.
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Bijan Khajehpour, chairman of
.com/F
consultants Atieh Group, said this
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investment could come from the
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West: “Iran’s main trading partners
Cyrus Razzaghi, president used to be the West, but this trend
of business consultants Ara has been reversed in the past few
Enterprise, told Pathfinder Business years with Iran doing business
that signs of a “serious shift in with eastern powers such as China
both sides’ attitudes are more real and India. An opening in relations
than ever since 1979”. could potentially reverse the trend
He said: “The tone of the Obama again to favour Western partners.”
administration – addressing Iran as Razzaghi cautions that
The Islamic Republic rather than Iran’s nuclear ambitions are
‘regime’ – and the change of strategy, the biggest hurdle in securing a
focussing on dialogue rather than thaw in relations. “The upcoming
regime change, are important.” presidential election will have a
Razzaghi believes the economic major impact on the direction of
implications of any such thaw, foreign investment. My advice
and a subsequent lifting of to companies is to watch the
UN sanctions against Iran, are developments and be ready for
PATHFINDER BUSINESS IS DELIGHTED
significant: “Iran is one of the market entry.”
TO BE RECEPTION & NETWORK
SPONSOR FOR THE RED HOT
Kuwait credit holds up well
LOCATIONS’ FDI INTERNATIONAL
Kuwait’s credit-worthiness remains The report states that despite
high despite the global economic weak oil prices, which affect the
TRAINING SEMINARS downturn, according to a leading entire region, Kuwait will see
report. Standard and Poor’s (S&P) growth this year.
said that the credit ratings for Kuwait Kuwait’s light debt burden
were AA-/A-1+, with the outlook is praised by S&P, which points
stable. out that “Kuwait stands out
“The ratings are supported by among peers in not providing
the sovereign’s rich resources,” said any additional fiscal boost to the
Luc Marchand, S&P’s credit analyst. economy.”
“Combined with prudent policies, Bahrain is cited as the most
this has enabled Kuwait to build very vulnerable country in the region to
strong balance sheet positions.” falling oil prices.
PBS12 pp04-11 Comment+News.indd 8 5/6/09 15:25:52
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