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Iran taking steps to boost domestic production

Business Materials 26 November 2019 18:09 (UTC +04:00)
Iran taking steps to boost domestic production

BAKU, Azerbaijan, Nov. 26

By Elnur Baghishov - Trend:

Iran is taking the steps to increase domestic production, Iranian Deputy Minister of Industry, Mine and Trade Mehdi Sadeghi Niyaraki said.

Niyaraki made the remarks at the 6th panel session in Iran, Trend reports referring to IRNA.

The 6th panel session on saving 76 million euros in the field of electronics and telecommunications was held at the Iranian Ministry of Industry, Mine and Trade.

Twent-six Iranian companies operating in the field of electronics and telecommunications participated in the panel session and signed contracts with Iranian mobile communication operators and operators rendering fixed telephone services.

“Some 76 million euros are expected to be saved in the field of electronics and telecommunications and this issue was discussed with the representatives of the companies,” the deputy minister added.

“So far, five panel sessions have been held to increase domestic production in the automotive, petrochemical and mining industries,” Niyaraki said.

"The implementation of the projects of saving 250 million euros in the automotive industry and 60 million euros in the petrochemical industry was discussed during five panel sessions," the deputy minister noted.

While speaking at the panel session, Director General of the Power and Electronic Industries Department of the Iranian Ministry of Industry, Mine and Trade Keyvan Gordan said that the appropriate steps towards self-sufficiency in these industries have been on the agenda since mid-August as part of the cooperation between Iran's mobile communication operators and the operators rendering fixed telephone services.

"Iran has a market worth $3 billion and an outflow of 76 million euros from the country will be prevented thanks to this panel session," the director general said.

“The import of a number of products to Iran has been suspended,” Gordan said. “Among these products are modem, batteries, copper and optical cables.”

The director general said that modem worth $66 million was imported to Iran two years ago (from March 21, 2017, through March 21, 2018), but presently, the figure is less than $12 million.

The panel sessions on household goods, railways, mechanical engineering, oil, gas, petrochemicals and big spare parts will be held in the coming months.

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