Investing In Iran? Consider These Things!
Following Iran’s recent nuclear deal with world powers, many companies are now competing to establish funds and businesses in Iran. Other companies are already benefiting from the $390 billion economy. They have understood to seek for a foothold before the sanctions are lifted, when the competition will be extremely fierce.
For the first time, since the revolution, Iran has opened its door for foreign investment and trade. Iran is currently the world’s 18th largest economy with a young, educated population. It has a higher output than Thailand or the UAE, which makes it the biggest economy to join the global finance since the Soviet Union twenty years ago. This makes investing in Iran an unique opportunity, especially for the oil, agriculture, manufacturing, mining, and services such as food, medical and ICT.
Iran-Seminar at FinPro
Our team recently attended the ”IRAN — Seminar on the economy and prospects for trade and business” held at FinPro in November 2015. The seminar discussed the opportunities for Finnish companies interested in expanding to Iran. Over 200 CEO’s and export/sales managers of large and small organisations attended, showing their interest in the region. This indicates that there are serious opportunities laying ahead, with great potential of growth for both countries.
What To Expect
As established, Iran holds great opportunities for investment and you may be considering that your company should expand into that region. Iran has been quite isolated since the 1979 revolution, thus most countries hold very little, if any, information about the country and its trades. A lot has changed in 40 years and the cultural division is now greater than ever. Unlike the GCC region, where Western companies have slowly understood and become familiar with the business and culture, Iran remains as a completely new, foreign area to be discovered.
The fact is, that there are no opportunities for business without taking into consideration the cultural differences. If what you offer is misaligned with the country’s culture, you might as well consider the opportunity lost.
What Can We Do?
Not many realise, that the Middle East is actually a multicultural hub, being a home to many different languages, ethnic groups and religions. Within Iran alone there are tens of various target groups, ranging from conservatives to liberals, young and old, city and rural inhabitants. Depending on who your target group (or groups) are, we will make sure that your brand communicates through the right attributes to the intended niche through careful branding strategies, visuals, positioning, tone of voice and the correct communication channels.
When considering Iran, we here at Qufi Creative have had a long relationship with the region, working with Iranian clients and projects throughout the years. As some of our team members hold their roots in Iran, the language, culture, likes and dislikes of the people are extremely familiar to us. This gives us a great advantage when approaching projects in the region.
We believe that good branding is always in the details and that is why we study the minute details of integrating your branding, web presence or any other creative productions that you have in mind. We provide our services not only in Iran, but in the entire Middle East, holding the advantage of Farsi and Arabic language skills, and most importantly, the cultural and artistic understanding of the vast region.
We care about your brand’s current values and believe that it should be translated correctly across your new venture. With investing in cross-cultural branding and marketing, you will be investing in your growth and potential.
By: Anmar Matrood
Creative Director at Qufi Creative
Originally published at www.quficreative.com.