Iran’s petrochemical sector generates approximately 60 million tons annually, yielding an annual revenue of about USD 20 billion. Encompassing nearly all chemical production processes, Iran’s petrochemical industry is primarily in private or semi-private hands. Many companies in this sector have previously engaged in partnerships with international investors or secured financing, indicating their potential interest in future collaborations with international partners.

Over the next decade, an estimated USD 80 billion investment is necessary to expand Iran’s petrochemicals sector, with a significant portion expected to come from foreign investors. Certain exports outside the EU may necessitate a license.

Iran’s principal industrial outputs include automobiles, manufactured metals, cement, and processed steel and copper. The country’s abundant and inexpensive energy resources offer a considerable competitive edge in metal and other industrial goods production. Consequently, heavy industry is concentrated in Iran’s southern provinces, near its energy reserves.

The Iranian government is allocating around USD 15 billion in funding to augment manufactured metal production. Several European car manufacturers have expressed interest in Iran. Opportunities for foreign companies in Iran include providing technology to upgrade manufacturing plants, offering plant maintenance and supply chain solutions, and exploring capital investment and joint venture prospects. Certain exports outside the EU may require a license.

Iran’s financial services sector contributed 2% to GDP in 2014. Governed by the Central Bank of Iran, the sector features eight state-owned banks. Although Iran’s capital markets are relatively small, they are expanding rapidly, with the Tehran Stock Exchange boasting a market capitalization of approximately USD 100 billion. While foreign investment in Iran faces limitations, there are opportunities for foreign  businesses to contribute expertise and capital to the sector’s development.

Iran boasts one of the most developed healthcare and pharmaceutical sectors in the Middle East. Government insurance schemes cover about 90% of the population, with healthcare spending expected to rise due to demographic shifts and increased prevalence of chronic diseases.

The government is committed to modernizing healthcare infrastructure, including building hospitals and medical laboratories, and investing in cancer and imaging centers. Samsung and Daelim are among the international companies involved in developing new hospitals in Iran.

The pharmaceutical industry in Iran, valued at $2.3 billion in 2021, is predominantly focused on locally manufactured products, with imports making up a smaller share by volume but a larger share by value. The Iranian government seeks to enhance domestic pharmaceutical capabilities and invites partners willing to transfer technology to local organizations.

Iran’s retail sector, traditionally centered around wholesalers supplying independent outlets from central bazaars, is undergoing change following the lifting of sanctions. With a growing middle class, increased internet access, and a young population, the demand for western brands is expected to rise. Opportunities exist in premium clothing, consumer products, convenience items, and online retail.