Iran to save foreign currency via domestic production
BAKU, Azerbaijan, August 11
By Elnur Baghishov – Trend:
Iran will save about $3.2 billion in the current Iranian year (March 20, 2020 - March 21, 2021) via domestic production, said Mohammad Mehdi Hadavi, director of Domestic Production Center of Ministry of Industry, Mine and Trade of Iran, Trend reports citing the ministry.
Hadavi noted that at least $250 million was saved via domestic production during the first four months of the current Iranian year (March 20-July 21, 2020).
He added that Iran's Ministry of Industry, Mine and Trade has banned the import of more than 2,200 products to support import-substituting domestic production.
The director emphasized that imports of $1 billion worth of products similar to those that are produced domestically, have been banned over the past nine months.
Hadavi said that Tavaniran system established in the 11th month of the last Iranian year (January 21-February 19, 2020) is aimed to strengthen domestic production through strong match-making between producers of Iranian products and the consumers inside the country.
"Currently, the system contains data on more than 77,000 manufacturing enterprises," he noted.