TEHRAN, Iran, November 2. Iran is seeking to attract foreign investors from regional countries via the upcoming 31st International Exhibition of Home Furniture (HOMEX) 2022, the chairman of Iran Home Appliance Association Abbas Hashemi told Trend.
Iran's home appliance sector has signed good contracts with several foreign delegations in the last year's exhibition, he said adding that the upcoming HOMEX exhibition will attract foreign investors.
He underlined that Iran's home appliance industry supplies 85 percent of domestic demands and manufacturers of gas heaters and ovens have 100 percent production capacity to supply the domestic market.
The industry also exports home appliances to regional countries and could expand its markets in other countries, he noted.
Iran Home Appliance Association shares 85 percent of the country’s home appliance production, including 85 percent refrigerators, 90 percent washing machines, 70 percent TV sets, 95 percent water coolers, 100 percent of thermal radiators, and 100 percent chinaware supplied to the market.
A total of 300,0000 individuals work directly in the home appliance industry while 1 million work indirectly in the industry that includes distribution and transportation, he added.
Iran's home appliance industry rates third in the country’s economy after oil and gas industries, with 15 percent value-added, $7.5 million turnover per year, and 7 percent export value, he pointed out.
A total of 17 million home appliances were produced in the last Iranian year (started March 21, 2021) and the target is to reach 25 million sets by 2025.
The 31st International Exhibition of Home Furniture (HOMEX) 2022 is scheduled for December 20-23 in Tehran.