It seems that we should finally come to realize that by misusing the environment and violating the nature’s circle, we are the ones paying the price at the end.
In It’s May 12, 2019 session the Parliament of Iran passed a bill which allows the children born to Iranian mothers to request Iranian nationality.
The International Center for the Settlement of Investment Disputes (ICSID) was established by its Founding Convention in the year 1966.
At first glance, it is worth considering that November 4, 2018 marked as the final day of the 180 days’ period regarding Donald Trump’s May 8, 2018 decision to suspend the USA participation in the Joint Comprehensive Plan of Action (JCPOA). Subsequently, on November 5, 2018, the USA re-imposed the sanctions on the Islamic Republic of Iran. The recent sanctions target the critical sectors of Iran’s economy such as the energy, shipping, shipbuilding and financial sectors.
The Circular No. 265156 dated 19 March 2019 was issued by the Ministry of Labour and Social Affairs in relation to the mandatory increases of wage and benefits of employees for the new Iranian calendar year 1398 (21st March 2019 to 20th March 2020).
The Instrument in Support of Trade Exchanges (INSTEX) was officially launched in early February 2019 through incorporation of a company in Paris. The purpose behind this channel is facilitation of financial relations and money transfers between Iran and Europe in response to new sanctions imposed by USA.
The number of Bilateral Investment Treaties (BIT) ratified by developing countries has significantly increased. BITs have actually had an important role in attracting the foreign direct investment (FDI) to signatory countries.
Incoterms is a standard set of rules creating in the year 1936 by International Chamber of Commerce (ICC) which is used by the traders, buyers, sellers, banks, governments and indeed anyone involved in the supply chain of delivering goods. In general, Incoterms covers the tasks involved in shipping, responsibility of risks, insurance duties, customs clearance and taxes.
The Ministry of Industry, Mine and Trade (the “Ministry”) has adopted a new mechanism for the importation of durable capital goods and consumables on 07 October 2018 through the Minister’s letter No. 60/187245 of the same date requiring the registration of branch(es) or representative office(s) for the purpose of importing the durable capital and consumable goods (the “Goods”).
During recent weeks, some econo-legal developments happened which might have a positive effect on the business environment: