This whitepaper explores the impact of relaxed trade sanctions on Iran and what effects it will have on recruitment.
Iran has a large economy and due to its large oil and gas reserves, has been described as an ‘energy superpower’ by analysts.
In addition to its role in the petrochemicals and energy industries Iran also has the potential to impact other sectors of the regional and global economy.
Why are businesses interested in Iran?
- Second largest economy in the Middle East and Africa
- Major regional power
- Massive fossil fuel deposits (particularly natural gas and oil)
Recruiting professionals in Iran
Iran has a young population and a highly educated workforce, but suffers from high unemployment. Foreign investors will have a broad talent pool to recruit from for junior and entry level positions, with many graduates having studied abroad in English speaking countries.
- 19% graduate unemployment
- 3.7m university students
- 96% youth literacy rate
Transferring professionals to Iran
Firms looking to bring in professionals with experience to work in the new Iranian markets will face many of the challenges usually associated with encouraging workers to transfer to a country with a developing economy, particularly if those professionals are transferring to a region where they are not familiar with the culture. Oman may represent a vital talent pool to fill these roles, having maintained a close relationship with Iran as well as Europe and the other Gulf states.
With these changes enacted, trade between Iran and the rest of the world has huge potential. US sanctions remain in place, giving businesses in the Middle East, Asia and Europe first mover advantage without competition from US firms.
To discuss the impact of the relaxing of trade sanctions in Iran on the business landscape of the Middle East, or your recruitment needs contact: