2nd part of govt. support package for non-oil exports to be implemented

October 18, 2020 - 16:3

TEHRAN – Head of Iran’s Trade Promotion Organization (TPO) announced the implementation of the second part of the government’s support package for non-oil export in near future, TPO portal reported.

According to Hamid Zadboum, the mentioned support package consisted of two main parts, one was the allocation of incentives provided by the National Development Fund (NDF) of Iran and the other part pertained to the allocation of incentives provided from the annual budget.

Zadboum had previously announced that the current year’s support package for non-oil exports included resources from the NDF amounting to 20 trillion rials (about $476 million), as well as resources provided in the year’s budget bill amounting to 6 trillion rials (about $143 million) plus part of the revenues from export duties and the increase in the Export Guarantee Fund (EGF)’s capital that was up to 100 million euros.

The official noted that part of the funding allocated from the budget for the mentioned package has been provided to the Industry, Mining and Trade Ministry and the ministry has obliged the relevant bodies to take the necessary measures in this regard, so the Trade Promotion Organization of Iran will start the payment of the mentioned incentives soon.

The TPO’s Secretariat of the Export Incentive Working Group has started receiving the application forms from the applicants in 10 sub-groups defined under the framework of the non-oil export support package, and the incentives will be paid after the assessments of the applicants are completed, Zadboum explained.

The official, who is also the head of the working group on non-oil export incentives, emphasized that developing export infrastructures will be a priority in the payment of the mentioned incentives.

Back in June, Iranian First Vice President Es'haq Jahangiri instructed relative organizations and executive bodies to implement the government’s support package for promoting non-oil exports in the current Iranian calendar year (began on March 20).

EF/MA

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