Emerging Markets - Highlight
23 Sept 2016
As the second-most-populous Middle East country, Iran has a huge consumer base with strong buying potential. Following the removal of international sanctions in early 2016, Iran’s retail landscape looks set to experience rapid changes along with the unleashing of pent-up demand for imported goods, especially branded products. Ample business opportunities will surface in Iran’s retail market for Hong Kong companies selling a wide range of quality consumer products.
Thanks to the ever-rising wealth and increased longevity of its citizens, Asia will soon be second only to the US as a medtech market, with diagnostically-enabled wearables and the digitisation of medicine set to make a huge impact.
The removal of many international sanctions on Iran in early 2016 looks certain to boost the country’s economic prospects. Enhancement of the investment climate in the medium-term notwithstanding, Hong Kong companies should take note of many western companies’ lingering concerns over the persisting “primary sanctions”, and the practical difficulties of doing business in the post-sanctions era.