IRISL Breaks Iran Container Transport Record Despite Sanctions
The Islamic Republic of Iran Shipping Lines (IRISL) has set a new record in container transport despite ongoing sanctions, the chairman of the board of the IRISL Container Transport Company announced.
According to IRISL, the official stated that the company transported 100,000 TEUs more than in the previous year, significantly boosting its container transport record. He attributed this achievement to mutual trust between the company and cargo owners, emphasizing IRISL’s commitment to expanding cooperation with customers while providing safe, organized, and cost-effective services.
The head of the IRISL Container Transport Company highlighted the company's continuous growth over the past five years despite sanctions, noting that performance figures have risen by over 41% compared to five years ago. He credited this success to the unwavering support of exporters and importers for the national fleet.
To further enhance customer service, the company has introduced new operational guidelines, resulting in significant service improvements at its offices in Bandar Abbas, Tehran, and the newly established customer service office in Chabahar. These initiatives include customer segmentation and ranking, moving toward personalized marketing using intelligent online systems to revolutionize client interactions with container transport.
He also announced the introduction of a nationwide bill of lading, marking a major step toward transforming IRISL into a full-fledged logistics company. With this new system, alongside comprehensive insurance coverage for all transported containers, goods can now be delivered through a seamless door-to-door service at minimal cost and delay.
Expanding international reach and Chabahar port’s growth
The official emphasized the importance of leveraging Iran’s North-South Corridor, particularly in serving the Russian and CIS markets, where demand for Iranian exports is strong. He noted that IRISL is fully capable of handling these shipments using multimodal and door-to-door transport solutions. He also highlighted the company’s global expansion, stating that IRISL now serves customers across five continents. Notably, he pointed to the rapid growth of Chabahar Port, which has risen from the fourth to the second-ranked port in Iran following IRISL’s strategic investments.
Before IRISL’s involvement, Chabahar had minimal container traffic, but over the past three years, container transport through the port has surged, reaching nearly 100,000 TEUs this year. The company aims to push this figure beyond 150,000 TEUs in the coming year. He underscored IRISL’s impact on job creation in Chabahar, describing it as one of the company’s most significant achievements. With increasing local employment and attractive discounts for cargo owners, the port’s economic prospects continue to improve.
A record-breaking year for IRISL
Concluding his remarks, the CEO revealed that IRISL’s container ships covered a total distance equivalent to 65 times the circumference of the Earth—approximately 1.385 million nautical miles—transporting cargo for Iranian exporters and importers. This was achieved with 260,000 tons of low-sulfur fuel, 90% of which was domestically produced. - Tehran Times
13/03/2025
Iran Ready to Continue Cooperation with UNIDO
The head of Iran’s Fisheries Organization announced that the country is prepared to deepen its collaboration with the United Nations Industrial Development Organization (UNIDO) to enhance tuna fishing practices and bolster both domestic and export markets for tuna products.
According to a report from the Ministry of Agriculture Jihad, Hamzeh Rostampour, in a meeting with UNIDO’s fisheries representative, expressed gratitude to the Tehran UNIDO office for its persistent and effective efforts. These efforts included organizing a short-term training course for an Iranian delegation in Japan, facilitating visits by Japanese experts to Iran for knowledge exchange, and conducting educational workshops. Rostampour emphasized Iran’s keen interest in continuing its partnership with UNIDO.
As the Deputy Minister of Agriculture Jihad, Rostampour highlighted key priorities, including the adoption of longline tuna fishing methods by fishing vessels and boats, the development of Iran’s tuna value chain through improved quality, the production of diverse products, waste reduction, and the utilization of fishing byproducts. He also stressed the importance of strengthening both domestic and export markets for tuna.
Rostampour urged faster action to bring a Japanese vessel to Iran, addressing any potential obstacles or arranging for a pre-approved Iranian substitute vessel if necessary. “It would be ideal for Japanese experts to be stationed on the vessel to accelerate project implementation,” he noted. He also emphasized the need to install cooling systems at the Konarak fishing dock and on the designated vessel, adding that winches produced by Iranian companies should be purchased by UNIDO and installed on vessels in coordination with provincial fisheries authorities.
He further suggested that providing longline fishing equipment to fishermen would significantly speed up operations. Rostampour also called for upgrades to low-consumption fishing boat engines, proposals to maintain product quality onboard, the use of renewable energy in aquaculture farms, and the development of production projects for coastal villages and rural women’s communities.
Tomoshi Kome, UNIDO’s fisheries director, described the collaboration with Iran’s Fisheries Organization as highly productive, thanks to the effective fisheries working group. He confirmed that two cooling systems had been delivered to Iran’s shipping authority and requested that Iran’s Fisheries Organization draft a letter to extend the contract, to be sent through diplomatic channels.
Kome announced that Japanese experts would arrive in the coming months to install cooling systems and provide training. He expressed optimism about the future, stating, “We anticipate that Iranian tuna products, meeting set standards, will soon enter the Japanese market.”
At the start of the meeting, a report on the longline fishing program conducted between Iran’s Fisheries Organization and UNIDO was presented. Despite challenges posed by the COVID-19 pandemic and sanctions, the collaboration was described as highly successful and satisfactory.
With these developments, Iran is poised to enhance its tuna industry, elevate its market presence, and strengthen its partnership with UNIDO. - Iran News
13/03/2025
Dhruva Launches VAT Guide for UAE’s Construction Sector
Dhruva Consultants, a leading tax advisory firm in the Middle East, has launched a VAT Guide to simplify tax compliance for UAE’s construction sector. Designed as a key industry resource, it offers real-world insights that is in sync with Federal Tax Authority (FTA) guidelines.
As the UAE’s real estate sector continues to expand at an unprecedented pace, tax compliance has become a critical challenge for developers, contractors, property managers and home owners.
To provide clarity and practical solutions, Dhruva Consultants, a leading tax advisory firm in the Middle East, has launched an exclusive VAT Guide tailored for the real estate sector.
Designed as a first-of-its-kind industry resource, the guide simplifies complex VAT regulations, offering real-world insights that is in sync with the Federal Tax Authority (FTA) guidelines.
For master developers, it explores VAT implications for phased developments, infrastructure cost allocations, and strategies for maximizing input VAT recovery, said the company in a statement.
Construction companies will find essential guidance on managing VAT for advance payments, handling contract amendments, and addressing the tax implications of project delays.
Meanwhile, property managers and owners can gain clarity on tax treatments for leasing, service charge invoicing, and joint ownership arrangements, ensuring compliance while optimizing financial efficiency, it stated.
Nimish Goel, GCC Leader, Dhruva, said: "With Dubai’s real estate transactions surpassing AED761 billion in 2024 - a 36% increase from the previous year - and Abu Dhabi witnessing a 24.2% rise in real estate transactions in 2024 as compared to the previous year, the sector remains one of the most dynamic in the region."
"However, as projects grow in scale and complexity, so do the VAT implications, requiring developers, contractors, and property owners to adopt a more strategic approach to tax compliance," he stated.
Goel pointed out that VAT mismanagement can lead to unexpected tax liabilities, project financing delays and regulatory penalties.
With multi-billion-dirham investments at stake, ensuring accurate VAT treatment is not just about compliance - it’s about protecting financial margins and operational efficiency. This is where Dhruva Consultants brings its expertise to the table.
Unlike standard tax guides, Dhruva Consultants’ VAT guide addresses the most pressing tax-related questions that real estate professionals face daily, he stated.
While the FTA has issued guidelines on VAT for real estate, Dhruva Consultants’ guide further complements it by incorporating industry-specific insights and practical case studies drawn from years of advisory experience with some of the UAE’s largest real estate players.
This guide not only helps businesses remain compliant but also turns VAT management into a strategic advantage, it added.
"At Dhruva Consultants, we believe in making tax simple," remarked Goel.
"The UAE’s real estate industry is evolving rapidly, and VAT compliance should not be a roadblock to growth," he stated.
"This guide is a strategic tool designed to empower developers, contractors, property managers and owners with clear, actionable knowledge, helping them navigate the complexities of VAT while ensuring financial optimization," he added.
13/03/2025
SC Ventures & Visa Sign MoU to Support SMEs in MENA
SC Ventures, the fintech investment and innovation arm of Standard Chartered, has signed a memorandum of understanding with Visa to develop digital solutions for small and medium-sized enterprises across the MENA region. The partnership was formalized at a signing ceremony at the Visa Innovation Center in Dubai.
Rola Abu Manneh, CEO of Standard Chartered Middle East, UAE, and Pakistan, and Saeeda Jaffar, Visa’s senior vice president and group country manager for the GCC, highlighted their commitment to fostering SME growth in the UAE and beyond.
13/03/2025