Iran Economy in Brief – No. 50

Armenia gets more power from Iran

“A new power line for a transferring electricity to Armenia will be constructed by Iranian investment. The total capacity of electricity sold to Armenia is going to reach 1200 megawatts”, said Mr Hamid Chitchian, Energy Minister of Iran.

That means 400% increase from the current 300 megawatts of electricity sent to Armenia. Energy Minister of Iran explains the priorities regarding Energy collaborations: developing new energy transfer channels from south to north through Armenia and Russia and environmental protection programs are among them. Iran is also going to sell wind-turbines to Armenia.

Read more about Renewable Energies in Iran (in Italian language)

 70 million inactive SIM cards

Estimates show that nearly half the SIM cards sold on the market are inactive. The ministry of communication and information technology announced that by the end of September of this year, 150 million SIM cards have been distributed across the country of which approximately 79 million are inactive, pointing to a penetration of 98.9 percent.

There are three major mobile operators in Iran: Hamrahe Aval (MCI), MTN Irancell, Rightel and Talia. Hamrah Aval is the oldest operator and with 18.5 million permanent and 46 million prepaid SIM cards, dominates the market. Irancell and Rightel focus is on prepaid services.

Read More about Mobile Operators in Iran

More export guarantee for traders

The exports guarantee fund of Iran (EGFI) and the exports guarantee company of Brazil (ABGF) signed a memorandum of understanding in which the parties agreed upon joint insurance coverage in third countries.

This MoU intends to codify a framework in order to develop trade and investment between the two countries in areas of exchanging financial, trade and banking information as well as increasing insurance coverage.

Exports guarantee fund of Iran aims to increase exports from Iran to Brazil. Iran and Brazil aim to increase trades to 5 billion dollars. In 2015, trade between Iran and Brazil was valued at 1.67 billion dollars which was 30 percent less than 2011.