TEHRAN, Iran, Jan.29
Trend:
Iran's production had 15 percent growth in past ten months of current Iranian year (started March 21, 2019), while the country moves toward self-sufficiency, said Minister of Industry, Mine and Trade.
"Iran's trade balance during past nine months of current Iranian year was positive, while the export had 18-percent growth in terms of weight," said Reza Rahmani, Trend reports citing ILNA.
"The production growth includes 20 percent increase of clothing production, 15 percent rise in food industry, 13 percent growth in copper production and 22 percent growth in glass production," the official said adding that the return of foreign currency revenue from non-oil export during current Iranian year has been provided to the industrial units and production.
"The growing export trend would be preserved until the end of the current year, as we have witnessed that import of consumer goods has been falling. Import of goods that have similar models produced domestically are not allowed, and the issue of implementation of import and reforming tariffs is on the agenda," Rahmani said. "The National Development Fund has assigned $476 million credit to exporter companies with 14.5 percent interest rate."
"The launch of the pilot project on extraction of rare earth element at Iran Minerals Processing Research Center will prepare the ground for self-sufficiency and Iran would be among the countries that produce rare earth element," he added.
The minister has inaugurated three industrial and mineral plants in Alborz province on Jan. 29. The enterprises shall contribute to development of technology, self-sufficiency and more employment opportunities in the country, he said.