France to invest in Iran's railway industry, shipbuilding

News ID: 3971508 -
TEHRAN, May 06 (MNA) – The Industrial Development & Renovation Organization of Iran (IDRO) known as IDRO Group and the Movement of the Enterprises of France (MEDEF) inked an MoU to cooperate in investment, insurance and major projects.

According to the MoU, the two sides will collaborate on transportation, railway industry, energy, new energy, oil, gas and petrochemical industries, infrastructure development, automobiles, shipbuilding, high technology, IT and investments.

The agreement also empowers Iranian directors, while underlining the need for transfer of technology and know-how, exchange of expertise and link to expensive international industry.

According to the deal, capabilities of IDRO and subsidiaries are considered as an entering gate to Iran’s industry for members of MEDEF.

The agreement also requires MEDEF to help IDRO in the investment, insurance and major projects.

MEDEF is the largest employer federation in France and has more than 750,000 member firms, 90 percent of them being small and medium enterprises (SMEs) with fewer than 50 employees. MEDEF is engaged in lobbying at local, regional, national, and EU-wide levels.

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