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Mineral, metal industries promising on TSE

Business Materials 7 November 2017 22:00 (UTC +04:00)

Tehran, Iran, November 7

By Mehdi Sepahvand – Trend:

Over the first six months of the current Iranian fiscal year (since March 21-September 22), the mineral and metal industries have proven very promising investments on Tehran Stock Exchange (TSE).

The whole group of minerals as well as metals such as steel and copper, which are under the impression of global markets, are doing very well on the TSE, Sara Aliyari, a Tehran-based stock market analyst told Trend.

A view of the data of the first half of the current fiscal year also reveals that petrochemicals are doing about the same on TSE.

Iran’s economy is largely founded on the three following industries, whose development will ensure a robust economy for the decades to come. The first industry is that of oil and gas. Iran holds 10 percent of world’s gas and 13 percent of its oil reserves. These will make Iran a unique stage for chemical, petrochemical and refineries to thrive.

The second industry that Iran is counting on is tourism. The country enjoys great natural and cultural tourist attractions. According to the 6th Development Plan (2017-2022), tourism income for Iran is planned to grow five-fold. Iran is positive that the industry can in mid-term make as much money as oil does.

The third group of industries promising in the Iranian economy is services, such as engineering, technology, and especially those around infrastructure, i.e. road and urban development. Literacy rate in Iran is over 85 percent, with 68 percent of university entrants being women and some 234,000 new engineers graduating every year. The young are very IT savvy.

Iran is growing into a trade hub in the region, thanks to the policies of the government and the untapped regional potential. The country has a population of 90 million, and with neighboring countries the market expands to over 400 million. The Iranian government’s new business contract model emphasizes a minimum 30 percent export of products for joint ventures between foreign and Iranian companies.

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