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Thousands of small businesses return to production cycle in Iran

Business Materials 9 December 2019 18:56 (UTC +04:00)
Thousands of small businesses return to production cycle in Iran

TEHRAN, Iran, Dec.9

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Over the past year, 20,000 small and home businesses in Iran returned to the production cycle with the help of EIKO, CEO of the Iran's Execution of Imam Khomeini's Order (EIKO) said.

During a visit to Mazandaran Textile Factory in Ghaemshahr on Dec. 9, Mohammad Mokhber said that at least 500 large factories have been returned to the production cycle with the help of EIKO, Trend reports citing IRNA.

The EIKO CEO announced the amount of investments allocated to renew operations of these factories.

“About $390 million were invested to return the factories and businesses to work, and this led to opening around 210,000 job places,” Mokhber said.

EIKO spent $4 million to rebuild the Mazandaran textile factory in the first phase, the CEO added.

Barakat Foundation also helped to revive the factory, he said adding that the foundation cooperates with the Execution of Imam Khomeini's Order with the purpose to help the underprivileged.

The Barakat Foundation was established on 11 December 2007 in order to perform activities in the fields of entrepreneurship and the social and economic development in the deprived areas.

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