FRANKFURT: German auto parts supplier Robert Bosch is opening an office in Tehran and plans to hire 50 staff by the end of this year because it sees growing potential for Iran´s car market following the lifting of international sanctions.
"We are delighted to be back in Iran.
In our quest to pick up speed quickly, we are benefiting first and foremost from re-establishing contact with former local partners and customers," said Uwe Raschke, Bosch´s management board member responsible for Europe, the Middle East and Africa.
"The country´s potential is tremendous.
We expect to see the Iranian economy grow by just under 5 percent this year.
The medium term is also highly promising.
"A number of foreign carmakers, including Renault, Daimler, Peugeot Citroen and Suzuki Motor Corp have announced plans to re-enter Iran or step up production there since the United States and Europe partially lifted sanctions in January, under a deal with Tehran to limit its nuclear programme.
Systems Limited, IT and IT-enabled services provider, hosted US Ambassador to Pakistan Donald Blome on May 3, 2024....
The logo of the Telenor Microfinance Bank . — temenos websiteKARACHI: Telenor Microfinance Bank reported a strong...
Chief Executive TDAP Mr. Zubair Motiwala met with HE Dr. Bakheet Ateeq Al-Remaiti, Consul General of UAE, in Karachi...
A representational image of gold bangles. — AFP/FileKARACHI: Gold prices in the local market dropped by Rs1,400 per...
A person walks by a sign advertising employment at a fast-food restaurant in New York City. — AFP FileWASHINGTON:...
This picture taken on January 30, 2023 shows residents buying vegetable at a market in Karachi. — AFP/FileLAHORE:...