Iran, Singapore to launch joint bank

Business Materials 21 May 2016 13:34

Tehran, Iran, May 21

By Mehdi Sepahvand -- Trend:

Iran and Sinapore are going to launch a joint bank, according to Iran Chamber of Trade, Industries, and Mines Chairman Mohsen Jalalpour.

He said the bank is justified by many cooperation grounds that exist between Iran and Singapore, Mehr news agency reported May 21.

The existing banking software that Singapore has, great assets of major Iranian companies such as petrochemical and shipping companies, cooperation in Mokran shores, water freshening and conveyance projects, maritime projects, biotechnology projects, nanotechnology projects, ITC, and the creation of production chains in Iran could all be grounds where Iran and Singapore are able to cooperate.

Mining, management, science-to-tech companies, were also mentioned by Jalalpour as suitable cooperation fields.

He added the two countries can also work in the areas of workforce education, legal consultation, marketing, refinery projects, combined cycle power plants, renewable energy, holding companies, packaging industry, rail transport, hoteling, and tourism.