Industry ministry to implement new program to promote investment

March 13, 2021 - 16:47

TEHRAN – Iranian Industry, Mining, and Trade Ministry is going to implement a new program dubbed “Resilient Economy with Top Enterprises" for promoting investment in the country’s industrial sectors, Deputy Industry Minister Saeed Zarandi said.

According to Zarandi, the Industry Ministry has been identifying pioneering industries and promoting the establishment of public joint-stock companies over the past two years for guiding public capitals towards such industries, as the first stage of the mentioned program.

In the second stage, the ministry is encouraging the country’s top enterprises to participate in the country’s investment arena, IRIB reported.

“We believe that the country’s economic development, in line with the policies of the resilient economy, requires increasing productive investments based on competitive advantages and completing the value chain in various industries,” Zarandi said.

Considering the technical, financial, and effective executive records of large and successful companies in the field of production and export, their role in the realization of this goal is of special importance, he added.

According to the official, every year, the country’s top companies are ranked according to their performance in the fields of production and export, job creation, and value-added, and 100 main companies of the current year have already been identified.

“This ranking is done among the country’s industrial, trade, and mining companies, and finally the top 100 companies are identified and selected to implement important projects; 39 of these companies are active in the petrochemical and chemical sectors, 21 companies are in the non-metallic sector, 20 companies in the mining sector and 20 companies are active in the manufacturing of machinery,” Zarandi explained.

The official noted that for each one of the mentioned companies, a certain project has been defined and a memorandum of understanding (MOU) will be signed with them to determine their obligations regarding the fulfillment of their investments.

The first of the mentioned MOUs is going to be signed between the Industry Ministry and five investors this week, according to the official.

EF/MA

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