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Why Spanish companies should consider Iran

In an interview with El Correo del Golfo Gerhard Barcus, Managing Partner of Certius, a market entry consultancy, argues why Spanish and Latin American companies should be more active in Iran.

Spanish and Latin American companies are being somehow slow to enter the Iranian market. This seems to be due to a lack of information. The Iranian market offers immense opportunities for foreign companies. A young and educated population of 80 million consumers, most of them longing to buy foreign brands, and a GDP per capita - at purchasing power parity - approximately at the level of Turkey make Iran an immensely attractive market. Add to this a legal framework (Foreign Investment and Protection Act) which provides legal protection for foreign investment and it is easy to see why so many companies are exploring the Iranian market. Much needed reforms of the financial system will help the country capitalize on the momentum created by its more recent re-integration into the global economic system. Spanish and Latin American companies should not hesitate further but explore the business opportunities waiting in Iran.