Central Bank of Iran to provide finances to domestic production
Tehran, Iran, July 20
Iran's Ministry of Industry, Mine and Trade plans to submit a list of projects aimed to expand domestic production to the Central Bank of Iran (CBI), said the deputy minister.
"It is expected that the ministry will present the package of projects to CBI in order to provide financial resources for developing domestic production," said Farshad Moghimi, Trend reports citing Mehr News Agency.
"One of the challenges is lack of industrialists' trust in investments and of financial support from organizations," he added. "Lack of the balance between demand and supply is another issue. It is necessary to conduct research to prioritize products and study target markets."
"The Ministry of Industry, Mine and Trade efforts is to reform tariff system and import management to improve domestic production," he said.
The Central Bank of Iran’s Governor Abdolnasser Hemmati recently stated that the bank has plans to channel the liquidity into production via target-oriented ways to address issues related to high production costs and the need for working capital.