"Global investors are never going to see a country of this size and sophistication open up again," says Charles Roberts of Renaissance Capital. The nuclear deal between Iran and the West promises to give investors access to an economy bigger than Thailand's and with oil reserves rivalling Canada's. And after 12 years out in the cold, thanks to crippling sanctions, it will have lots of catching up to do.
There is far more to this story thanoil, says Andrew Critchlow in TheDaily Telegraph. Iran has developed a broad industrial base, with a car industry that produces over a million vehicles a year, while investors are also eyeing up petrochemicals and engineering.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The population numbers around 80 million and half of university students are female. The stockmarket, meanwhile, is one of the region's largest, with a market capitalisation of $100bn and around 300 listed companies. The market is now worth just 28% of GDP, a far lower figure than in most other countries.
"If Iran transitions from a fringe market to an open one with a size commensurate with its economy, the upside could be huge," says Asa Fitch in The Wall Street Journal. Charlemagne Capital plans to set up a fund providing access to Iran with Turquoise Partners, a Tehran-based investment group, in the near future.
-
ChatGPT turns three: what’s next for the ‘AI era’?Three years after its launch kickstarted the age of AI, ChatGPT and its maker OpenAI are driving the stock market. But concerns are growing over whether OpenAI will be able to turn its AI dominance into profit.
-
What to do with old £1 coinsThe old one pound coin was demonetised in 2017, but there are still millions out there in the UK. Here’s what to do if you find an old £1.
