Iran's export of mineral material reaches $10B

Business Materials 7 March 2020 11:31 (UTC +04:00)
Iran's export of mineral material reaches $10B

TEHRAN,Iran, March 7


Iran's mining sector exported materials worth $10 billion in the current Iranian year (started March 21,2019), the head of Iran Mine House (Non-Government Organization that supports and promotes the Iranian mining industry) Mohammad Bahraman told Trend.

"The expected target for mineral material products value in the current Iranian year was $22 billion. Despite sanctions the volume of export reached $10 billion," he said.

"The production value of mineral material products last Iranian year (started March 21, 2018) was $20 billion, while materials worth $9 billion from this figure were exported, and the rest was consumed domestically," he said.

"Turkey, Afghanistan and the UAE are the top three foreign investors in Iran," he added.

"The statistics from the first half of the current Iranian year show that Iran's neighbors are the top investors in Islamic Republic's industrial, mine and trade projects," he said.

"Foreign investors are mostly interested in small or medium scale plans with less investment requirements," he added.

Bahraman said that the highest foreign investment demands are in the mining and industrial sectors (Khorasan Razavi province), while East Azerbaijan, Khuzestan, Qazvin and Zanjan provinces were other top destinations attractive for investors.

Iran's ease of doing business index in 2019 indicates support of small investors, resolving bankruptcy , cross border trade, obtaining credit and tax payment had low scores.

"The unpredictability of changes in basic materials, uncertain policies, spontaneous regulations and administrative methods in business, difficulty in providing finances from banks are the important issues that effect Iran's business index," said the report.