Annual sales of nano companies rise by 100%

March 1, 2021 - 17:0

TEHRAN – Iranian nanotechnology companies have increased sales by 100 percent over the past year, Vice President for Science and Technology, Sourena Sattari, has announced.

Some 270 companies are active in the nanotechnology field and it is predicted that their revenue will reach up to 80 trillion rials (nearly $1.9 billion at the official rate of 42,000 rials).

Sattari inaugurated 40 industrial and 17 development projects in the field of nanotechnology during a ceremony on Saturday.

Iran improves in nanotechnology

Iran’s ranking in nanotechnology articles citation in 2019 has significantly improved compared to 2018, as it moved 26 levels higher, according to the StatNano’s statistics collected from the WoS database.

Based on a report Nanotechnology Publications report, Iran ranked 38 worldwide for the average times the nano-articles have been cited in the Journal Citation Reports in 2019, while in 2018, it was placed 64.

Iran ranked 4th for the highest number of nano-article publications.

Technology development in Iran

Despite sanctions putting pressure on the country, a unique opportunity was provided for business development and the activity of knowledge-based companies in the country.

Currently, over 5,700 knowledge-based companies are active in the country, manufacturing diverse products to meet the needs of the domestic market while saving large amounts of foreign currency.

The fields of aircraft maintenance, steel, pharmaceuticals, and medical equipment, oil, and gas are among the sectors that researchers in technology companies have engaged in, leading to import reduction.

In recent years, the vice presidency for science and technology has been supporting knowledge-based companies active in the production of sanctioned items.

Sattari told the Tehran Times in October 2020 that “U.S. sanctions caused exports of knowledge-based companies to decline three years ago, however, it has returned to growth and is projected to reach the pre-sanctions level of more than $1 billion by the end of the current [Iranian calendar] year (March 20, 2021).

Fortunately, last year, companies achieved a record sale of 1.2 quadrillion rials (nearly $28.5 billion), which is expected to increase by 40 percent this year.”

To date, 42 knowledge-based companies with a total value of 2.8 quadrillion rials (nearly $66.6 billion) have been listed on the stock exchange and they will soon turn into the biggest businesses in the county, Sattari said.

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