Iranians stand in line at a polling station during elections in Qom. (AP Photo/Ebrahim Noroozi)
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That's how MP Jock Bruce Gardyne described Iran in late 1966 .I listened to Michael Axworthy of Exeter University speaking at an event held by Scottish-based fund manager MacInroy & Wood last week. His positive case for Iran is hugely compelling. Think of an interesting IT firm in the west and you can be sure it is already replicated in Iran.A chat with Iran specialist Dominic Bokor-Ingram of Charlemagne Capital cemented the image. He reckons that Iran can grow its GDP at 6-8 per cent for the foreseeable future. There around 30 other sectors listed on the stock exchange: there may be no Rootes left, but the car industry remains Iran's second-biggest contributor to GDP (look up Iran Khodro -- I wouldn't mind one of their four wheel drives).At this price, Iran has to be one of the best opportunities in the investment world -- even if the "E" in the PE equation isn't 100 per cent accurate.If you can cope with all of that, Iran is definitely worth a look.
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