Citing World Bank figures on a huge GDP fall 2017-20, Gholam-Hossein Shafei has said the government needs to revise policies to stimulate competition and encourage investment.
22 hours 45 min ago
Nokia: No New Trade Deals with Iran in 2019
Nokia announced that due to the complicated nature of U.S and E.U regulations regarding trade with Iran, the company will not have any new trade deals with Iran in 2019.
Nokia, which is a prominent name in production and distribution of telecommunication equipment, announced the news in its annual report on Thursday, March 21.
The report states: “The Eu and U.S oversight on Iran’s commercial activities will get exponentially more complicated in the future.”
The report continues: “As a European company, it is difficult to oppose the foreign policies of the United States and EU. The change in the foreign policy of the United States regarding economic sanctions makes it necessary for us to reevaluate our activities in Iran. This move significantly decreases our share of the market in Iran and forces us to adjust the existing contracts with the current economic sanctions.”
According to the report, in 2018, Nokia has done commercial deals with Mobile Communications of Iran (Hamrah Avval), Irancell, High Web, Iran’s National Telecommunications, Ertebatat Zirsakht, and Forsat Kish company. Nokia underlines in its report that it cannot ignore the possibility of government-ownership or control of any of these companies.
Nokia’s revenue from these deals in 2018 was 54.6 million Euros.
Related
Iran in Brief
Iran has drastically reduced its gasoline exports in mid-2021 apparently to build up its strategic reserves after it aggressively exported the product in 2020 to generate hard currency.
19 Sep 2021
Despite spending tens of billions of dollars in Syria and Iraq to build influence, the Islamic Repubic of Iran has not been able to reap substantial economic benefits.
18 Sep 2021
