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
Volvo Shuts Down its Assembly Plant in Iran
The spokesperson for the Swedish company said due to the U.S sanction and the resulting disruption in Iran’s banking system, the company is unable to receive the payments for the services and the delivered parts provided.
Volvo had a Truck assembly plant in Iran, and it was in partnership with Saipa Diesel, a subsidiary of Saipa company, which is the second largest car manufacturing company in Iran.
Volvo announced that beginning on Monday, it will not accept any new orders from Iran.
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