Amir Bayat appointed acting head of IDRO

May 19, 2020 - 15:58

TEHRAN –Iran’s Acting Minister of Industry, Mining and Trade Hossein Modares Khiabani appointed Amir Bayat as the acting head of the Industrial Development and Renovation Organization of Iran (IDRO), IRNA reported on Tuesday.

Bayat replaced Mohammad-Baqer Ali, who was the head of the mentioned organization since May 8, 2019.

As reported, Modares Khiabani has called on the acting head to provide serious and effective support for the expansion of the private sector's share in the industry, while making comprehensive planning for financing and completion of semi-finished projects, increasing domestic production, completing production chains and increasing job opportunities in order to realize the motto of "surge in production".

Amir Bayat, who has a Ph.D. in Industrial Management, was previously the managing director of Lidco and Fidko companies, and also the chairman and member of the board of directors at Iranian aluminum companies, as well as Iran Offshore Company.

Industrial Development and Renovation Organization of Iran was established in 1967 to develop the industrial sector and to accelerate the industrialization process of the country.

In recent years and in accordance with the country’s privatization policy, IDRO has made great efforts to privatize its affiliated companies.

While carrying on its privatization policies and lessening its role as a holding company, IDRO intends to concentrate on its prime missions and to turn into an industrial development agency. IDRO has focused its activities on the following areas in order to materialize such strategy and to expedite the industrial development of Iran:

* Promotion of local and foreign investments with minority holdings owned by IDRO (less than 50% of the shares) with particular emphasis on new, Hi-tech and export-oriented industries.

* Restructuring the existing industries through the participation of reputable foreign companies in order to transfer new technologies and to enhance the non-oil exports of Iran.

* Development of general contracting activities with the participation of the Iranian private sector and credible foreign companies.

* Rendering consultancy and support services to foreign investors.

* Privatization of the existing subsidiaries.

EF/MA

Photo: Amir Bayat (left) was selected as the acting head of IDRO on Tuesday, replacing Mohammad-Baqer Ali (middle), the head of IDRO since May 8, 2019.

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