Exclusive – Head of a consultancy company based in Tehran says the country is “the only market” that European firms can really trust in the beleaguered Middle East.

“My company provides consulting and advisory service to many European companies, and I always explain that Iran is the only market that you can really relay on,” Margaret Ryan, managing director of MehrMax Cara consultancy company, tells The Tehran Times. 

In what follows the full transcript of the interview has been given: 

Q: Since the implementation of the Iran nuclear deal, a lot has happened in the Iranian market. What’s your assessment of the current situation? How do you see the future? 

A: There is a lot of interest in Europe in regards to working in Iran as the market has a huge potential. There are many companies who worked in Iran in the past and these are also looking forward to come back in addition to newcomers. 
I feel confident that the nuclear agreement won’t be revoked, and possibly U.S. will need to find a compromise. My assessment is, considering division and disagreement between U.S. and EU since the election of president Trump, that EU could eventually implement JCPOA without U.S.

Q: Your company provides specialized consultancy services in a wide range of sectors, including energy and aviation. What do you tell foreign investors who are weighting up investing in these areas and other ones in Iran? 

A: Yes, my company provides consulting and advisory service to many European companies, and I always explain that Iran is the only market that you can really relay on, should the banking ban be lifted it will become the biggest opportunity in the whole region. Additionally, as large part of the Middle East is in turmoil I believe economically strong Iran could add to the building of peace process. As far as investment is concerned, we all wait impatiently till international banking is restored.

Q: Banking issues continue to be a source of concern for foreign investors eying to win venues in Iran. What’s your solutions for the problem? 

A: For the interim period, I suggest barter and buyback as a temporary solution. Foreign companies are welcomed to enter MOU’s and work on their business structure until banking problem is resolved and conduct a proper research so when it happens they are all set and ready for trade. Proper and thorough establishment of foreigner entities in Iran is crucial to fruitful business and minimized risk.

Q: What measures can be taken on the Iranian side to facilitate foreign trade? 

A: I feel that foreigners need more assistance with the legal guidance on how to set up a company, deal with tax issues and invest in Iran. At present, I fear lawyers do not have a clear guideline, in particular for private sector and the situation seems to be changing very rapidly. 

Q: In the post-sanctions era, Iran has demanded potential trade partners transfer technology to domestic companies. Do foreign sides welcome that? Have you brokered such contracts so far? 

A: I have not come across foreign company yet which would not be willing to transfer technology or provide expert training, but only if they can have a presence in Iran; in other words on basis of Joint Venture so both companies can benefit and set up a business culture that suits everyone.
I have organized workshops before for example at IRC, whereby the largest insurance broker in UK has given lectures to local insurance companies on various subjects. Another important event was held at Shahid Beheshti University in Tehran, with speakers presenting on industrial lubricant technology. We had 80 representatives from various industries in Iran. These events are very important as the education and exchange of knowledge is key to improve international cooperation as well as to expand and update their knowledge to the international working standard. 

  Q: And your concluding comments. 

A: Our company, MehrMax Cara, is 100% Iranian registered company where I am the MD and shareholder. I have a work permit and residency in Iran, which I usually show to all foreign companies to assure them that it is possible to work and live in Iran without any obstacle, even as a female. Our services also include representation of international companies in Iran, organizing seminars and conferences, allocating the right partners as well as assisting on projects. Recently we have also added operational services to our offer for example: facilitating relevant license from particular industry.

Our aim is to promote Iran and share my own experience which helps us bringing investors and to some extent add to the country’s economy. I have studied International Relations at university with focus on Middle East and Persian Gulf as case study. 

I have been travelling throughout Iran for the last 4 years and met many wonderful people both in business and private life. I have made friends here who welcomed me into their homes which allowed me to learn their way of day to day life. Presently apart from the business side I am working on few socially focused projects. Their aim is community building, education and personal development. We are also assisting on expanding the sport scene in Iran and the end goal is to bring international tournaments to Iran. I also like to encourage young people to educate themselves, focus and believe in themselves. Whether they want to start their own company or work for someone else hard work and persistence is key to achieving any goals. 

I feel that the current general perception of Iran is out of date and should be refreshed. There isn’t enough accurate and general coverage: culture, society and travel in foreign press and Iran remains undiscovered for many. However the relaxation of visa processing for Europeans resulted in many tourists visiting Iran and sharing their holiday experiences back home which encourages more visitors to come.