The theme of last year’s petrochemical gathering (IPF4 2002), which was more important than the contracts, their number or even their magnitude, was how much the forum succeeded in bringing the field’s experts together to engage in honest and cordial exchange of ideas. And thus it was all about chemistry and the motif running through Iran International was "friendly chemistry". The forum before that (IPF3 2001) was a forum and an opportunity for dialogue a "petrochemical dialogue", and thus its theme was selected accordingly.

The main topics that have been selected for IPF5 are current issues faced by the petrochemical industries of Iran and the world. The most important topics of concern for petrochemical industries –both at international and regional levels– include challenges they face in regards to investment, utilizing natural gas, regional cooperation, future of aromatic products, new applications of methanol and ways of compensating propylene shortage. Moreover, petrochemical industries are trying to find answers for such problems as the decrease in propylene production due to the replacement of naphtha feed with ethane, taking advantage of recycling technologies and the effect of the e-commerce of petrochemical products on market growth and investments.

The further development of the petrochemical industry requires capital and technology which Iran does not have, or does not have enough of. A way to address this shortcoming is by opening the doors to those who do have the know-how. In effect what Iran has been saying for the past half decade is: "raw material from us investment from you or feedstock from us and technology from you. Together we can reap the benefits." However, finding a partner who has technology and is willing to investment has been challenging to say the least. It takes more than just raw materials to attract foreign investment in the ever competitive international market and that is where the NPC’s IPF comes in. To resolve its foreign investment crisis, Iran has introduced its potentials as a market and its human and material resources as a supplier.

This measure has been in vogue for four years now as part of the NPC’s activities to facilitate exchange of views with foreign technicians from across the world and acquire new methods and technologies for training and educating its workforce. Due to expansion of foreign contacts, foreign direct investment has entered an executive phase, an example of which is the investment in the isocyanate project at the special economic-petrochemical zone with participation of two companies from Sweden and Germany. Directors of these companies will address the forum in May 2003. Undoubtedly, the forums have not only led to the better introduction of Iran’s petrochemical industry and its downstream industries to the global market, but have also boosted Tehran’s role as an important decision-making center in the region for the future of the petrochemical industries.

The forum has helped Iran in many ways, one of which has been the signing of $6 billion worth of contracts with domestic and foreign companies to develop and modernize the industry. This mammoth joint investment is not the end of the story but merely its beginning. Iran needs and intends to attract much more investment. According to projections, both investment and the industry’s productivity should rise by several times before it becomes a source of revenue.