Ithraa explores business opportunities in Iran

Energy Tuesday 21/November/2017 21:23 PM
By: Times News Service
Ithraa explores business opportunities in Iran

Muscat: Ithraa, Oman’s inward investment and export promotion agency, held a one-day workshop at the Public Authority for Civil Aviation (PACA) Training Centre, to explore the opportunities and challenges Omani exporters face with doing business in Iran.
Iran remains an attractive target for Omani businesses, with highly favourable cross-sector opportunities. Home to a burgeoning middle class, Iran has a long-standing appetite for quality services and goods, offering Oman-based companies potentially rewarding commercial opportunities.
Located at a crossroads between Europe, Asia, Africa and the Middle East, “Iran is no longer just a market of its nearly 80 million strong population, it should be seen as a market of more than 300m people thanks to its location, allowing access to Arab states in the south and west; central Asia in the north; and Afghanistan and Pakistan in the east,” remarked Nasima Al Balushi, Ithraa’s Director General for Investment Promotion and Export Development.
Iran’s middle to upper classes could potentially be a key market for Omani non-oil exporters.
Business commentators expect Iran to upgrade its rail network, ports and increase investment in infrastructure.
Research conducted by emerging markets research specialists, On Device Research suggests 73% of Iranian consumers are interested in buying foreign products, as soon as they become available. What interests Iranian consumers the most is the opportunity to have access to better quality products.