Dubai: There is ample opportunity for Drydocks World to extend its operations in Iran but only once a political solution has been found, chairman of the Dubai government-owned company said on Monday.
Ongoing negotiations between Iran and the P5+1 are reportedly inching closer to a deal that will potentially open the country to outside investment.
Khamis Juma Bu Amim said he expected Iran to be Drydocks World’s first choice once sanctions are lifted. Iran has vast energy reserves, a sector Drydocks World said it is focusing on.
However, the Dubai-based company has fallen out with the Turkish market.
“There was, at one stage, a discussion, a potential for some partners in Turkey but unfortunately, the situation now doesn’t warrant that … we don’t want to go to areas like that at this point,” he said.
Turkey has become less attractive for foreign investment as the currency sinks against the dollar in response to protests against the country’s government lead by Prime Minister Recep Tayyip Erdogan.
“It’s many things, which include the political side no doubt, [but it also] includes the economy side,” Bu Amim said.
