What is private what is state owned
The meaning of private and state owned companies in Iran is somehow different from what many westerners are familiar with.
Iranian law defines a state owned company as a company with at least 51% of its shares belonging to the Government and a private company is defined to be a company, with at least 51% of its shares belonging to private or non-state-owned institutions.
These are the so called “quasi-state-owned” companies, which despite being private, observe the Government policies and decisions. This includes many institutions like Tejarat Bank, Saderat Bank, Mellat Bank, Iran Khodro Co, SAIPA and all petrochemical companies except NPC.
Read More about Private and State-owned Companies in Iran
Iranian banks in Europe
Central Bank of Iran gave the permission to three Iranian banks, Middle East Bank, Sina Bank and Parsian Bank to open branches in Germany.
The first two have already chosen the city for their office: Munich.
The news was announced during the visit of the Bavarian Business delegation headed by Mrs. Ilse Aigner, the Economic Minister of Bavaria.
Following the payoff of Iran’s debt to the German Federal Government regarding “Hermes Cover”, the export credit guarantee, the German party has also promised to resume its services for exporters to Iran.
More support for on-site generators
Ministry of Energy of Iran will buy the electricity generated by distributed generators at 10% higher than the current price.
There are 650 Megawatts on-site generators active in Iran where 70 Megawatts of power came into operation after March 2016.
Until the end of the Iranian fiscal year, i.e. 20 March 2016, 230 Megawatts more is expected to be added to the current capacity.
As the Government guarantees buying the produced electricity from on-site generators, an increase in price will encourage more contractors to join.
