International Companies to Invest in Iran’s Newly Opened ICT Park

Iran’s ICT Ministry is inviting international companies to bring foreign investments into the country’s newly opened ICT Science and Tech Park.

Iran’s ICT Ministry has announced that they are in talks with 50 companies and banks in Iran, along with a number of international companies to have a presence in the country’s newly opened ICT Science and Technology Park in Alborz Province. According to Davaei, Deputy of Innovation and Technology at Iran’s ICT Ministry, technology-driven companies in the field of transportation would have a presence in this park.

Iran’s ICT Science and Tech Park was officially inaugurated in August, with the aim of supporting technology and innovation related ideas and products in the country, and also marketing them in other countries. Rouhani’s government is hopeful that projects like this could help with the country’s challenge of unemployment rate. In 2012, Iran’s IT market size was 15,000 billion Toman (about 3.75 billion dollars) whereas in the current year it has reached to 40,000 billion Toman (about 10 billion dollars), according to official statements.

“We are negotiating with five international companies to invest in this park,” said Davaei when talking about the presence of international companies in Iran’s ICT Science and Tech Park, reported by IRNA.

Internet of Things is one of the other main focuses in Iran’s ICT Science and Technology Park. The Health Tech Park is also situated next to this park which could promise cooperation opportunities between the two parks in the field of IoT.

The Number of knowledge-based firms in Iran has increased from 52 in March 2014 to 2732 until October 2016, according to a report published by the United Nations Conference on Trade and Development (UNCTAD). These firms account for almost 70,000 employees and $6.6 billion in annual turnover.

Number of Science and Tech Parks in Iran also grew from only 1 in 2002 to 39 in 2016. knowledge-based products exported by Science and Tech Parks and incubators in Iran also grew from only 0.7 million to 50.6 million in 2015. See this infographic for a detailed information about the state of science, technology and innovation in Iran.