Investing in Iran? You'd Better Like Tea, Cake and Bureaucracy

BLOOMBERG BUSINESS

BY LADANE NASSERI AND GOLNAR MOTEVALLI

When Mahdi Yazdizadeh tried to import and sell a type of high-tech robot that stocks warehouses, he found himself running from one Tehran office to the next, having to answer a stream of questions to get the neededapprovals.

“The customs department doesn’t have advance guidelines so they just pass you from person X to person Y because they haven’t dealt with such things before,” said Yazdizadeh, director of corporate business development at Shekofa Manesh Co., a leading retail group and franchisee in Iran. “You have to almost educate them.

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