Photo source: www.countryreports.org
Iran, which means 'Land of Aryans' and is also known as Persia is a sovereign state in Western Asia. Iran is the world's largest 18th-most populous country. Comprising a land area of 1,628,550 km2 (628, 786 sq.miles), the second-largest country in the Middle East and the 17th-largest in the world, with a population of approximately 82 million. Iran is bordered to the northwest by Armenia, the Republic of Azerbaijan, and the Azerbaijani exclave of Nakhchivan; to the north by the Caspian Sea; to the northeast by Turkmenistan; to the east by Afghanistan and Pakistan; to the south by the Persian Gulf and the Gulf of Oman; and to the west by Turkey and Iraq. The country's central location in Eurasia an Western Asia, and its proximity to the Strait of Hormuz, give it geostrategic importance. Tehran is the country's capital and the largest city, as well as its leading economic and cultural center.
Iran is a major regional and middle power, exerting considerable influence in international energy security and the world economy through its large reserves of fossil fuels, which include the largest natural gas supply in the world and the fourth largest proven oil reserves. Iran pumps nearly 4 million barrels of oil each day. After oil, Iran's largest import commodity is carpets. Iran is China's most main abroad market, importing overseas project contracting, technology and sets of equipment.
Iranian authorities have adopted a comprehensive strategy encompassing market-based reforms as reflected in the government's 20-year vision document and the sixth five-year development plan for the 2016-2021 period. The sixth five-year development plan is comprised of threepillars, namely, the development of a resilient economy, progress in scienceand technology, and the promotion of cultural excellence.
Iran’s economy is expected to grow at an annual average rateof 4.6 percent in 2016- 18. Over the medium term (2017-2018), investment islikely to play a much larger role in generating growth on the assumption thatnew investment deals currently being negotiated will materialize in 2017 and2018, and financial linkages with the rest of the world will be restored.