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Iran to use various resources for auto import

Business Materials 22 August 2022 12:10 (UTC +04:00)

TEHRAN, Iran, August 22. Iran is considering several resources including cryptocurrencies for auto import, said the Vice President of Parliament's Industries and Mining Commission Ali Jaadi , Trend reports citing Fars News Agency.

Up to $1 billion has been assigned for auto import while using cryptocurrencies is another source without any limit, he said.

Individuals and foreign companies can import cars and use the profit to invest in the domestic auto industry, the MP noted referring to other methods of auto import.

Iran's auto import regulation allows the import of cars valued up to $20,000 while importers of affordable vehicles (valued at less than $10,000) would pay less than 10 percent customs tariffs.

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