The business mission of the Federation of Employers & Industrialists (OEB) to the capital of Iran, Tehran, which took place on September 26-28, 2017, was successfully completed.

The mission, headed by the President of the OEB, Mr. Christos Michaelidis, was accompanied on behalf of the Government by the Director of the Office of the President of the Republic, Mr. Michalis Sofokleous. The OEB mission was attended by 20 businessmen among them the CEO of our Group GDL Green Energy Group and Vice President of OEB Mr. Giorgos Georgiou and the CCO of our Group Mr. Michalis Papageorgiou.

On the first day of the mission’s stay in Tehran, a conference of the OEB and the Social Insurance Investment Company of Iran (SSIC) was held, which concerned the prospects for the development of investment and business partnerships in Cyprus as well as the peculiarities of the development of business partnerships in Iran. The President of OEB Mr. Christos Michaelidis, the Director of the Office of the President of the Republic Mr. Michalis Sofokleous, the CEO of SSIC Mr. S.R. Norouz Zadeh and the Deputy Minister of International Relations of Iran Mr. Seyed Hassan Hefdahtan spoke at the conference.

As part of the mission, a Memorandum of Understanding was signed between OEB and SSIC. The Memorandum provides, among other things, for cooperation in various sectors of economic activity, the exchange of information / information, the organization of joint actions and the development of bilateral cooperation for the benefit of Cypriot and Iranian businesses. Dozens of business meetings followed between Cypriot and Iranian businessmen connected to SSIC. It is noted that SSIC’s parent and subsidiary companies exceed 300 with a total turnover of more than 22% of Iran’s GDP.

Also, as part of the business mission, an action plan was signed between GDL Group and SSIC’s subsidiary, TAMIN ENERGY DEVELOPMENT COMPANY (TEDCO), following the Memorandum of Understanding signed on April 23, 2017 for the development of photovoltaic projects in Iran.

The mission was completed by holding additional business meetings with private Iranian businessmen, who showed keen interest in cooperation.

During the mission, important prospects for cooperation between companies of the two countries in many fields were identified. According to the contacts made during the business mission, business partnerships worth several million euros are expected.