Issuance of industrial unit permits up 26% in 2 months yr/yr

June 10, 2020 - 10:41

TEHRAN- The latest data released by Iran’s Industry, Mining and Trade Ministry indicates that the issuance of permits for the establishment of industrial units in Iran has risen 26.4 percent during the first two months of the current Iranian calendar year (March 20-May 20) compared to the same period of time in the past year.

The data put the number of issued permits at 4,612 during the two-month period of this year, IRNA reported.

Some 556 trillion rials (about $13.2 billion) has been invested for the establishment of the mentioned units, showing a 40-percent growth year on year.

As previously reported by the Industry, Mining, and Trade Ministry, during the previous Iranian calendar year 1398 (ended on March 19), 27,947 licenses were issued for establishing new industrial units which mark a 14.2-percent increase year on year.

More than 3.63 quadrillion rials (about $86.52 billion) were invested for setting up the mentioned units which shows a 26-percent rise compared to the preceding year.

These units were expected to create job opportunities for 633,381 people, 14.2 percent more than the figure for the year 1397 (ended on March 20, 2019).

In the past year, the number of licenses that were issued for the newly established industrial units to start operation also increase by 2.9 percent year on year.

The investment in the newly established units increased 5.3 percent compared to the preceding year, while job creation by the mentioned units fell 1.2 percent.

The average investment in the mentioned sector also increased from 102.1 billion rials (about $2.43 million) in 1397 to 104.5 billion rials (nearly $2.5 million) in 1398.

In April, the Industry, Mining, and Trade Ministry outlined its major programs for supporting the domestic production in the current calendar year.

The ministry’s programs included supporting the country’s industrial units and facilitating license issuances in order to promote domestic production and non-oil exports.

MA/MA

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