Iran targets manufacturing 3 million cars per year

Business Materials 4 May 2015 12:35 (UTC +04:00)

Baku, Azerbaijan, May 4

By Umid Niayesh - Trend:

Iran plans to increase its annual car output to three million over the next six years, the Islamic Republic's Deputy Industry, Mines and Trade Minister Valiollah Afkhamirad said.

Afkhamirad who heads the Trade Promotion Organization of Iran put the country's current auto output at 1.1 million per year, the official website of the Trade Promotion Organization reported May 4.

He made the remarks during a meeting with a Swiss business delegation in Tehran on May 3.

The Iranian official said that the Islamic Republic has provided favorable conditions for foreign investors to invest in the country's car and car parts production industry.

If any famous international automaker is interested to produce cars with up to 2500 CC capacity engines in Iran the ground of cooperation will be prepared as well, Afkhamirad said. Iran produced more than 1.13 million cars in the past fiscal year(ended on March 21).

Sedan cars output stood at 958,335 in the mentioned period, a 53 percent rise year on year. Iran also produced 150,929 pickup trucks, 20,239 trucks, 482 buses, and 179 minibuses in the 12-month period.

Afkhamirad also touched upon the issue of attracting foreign investors to other industrial sectors in Iran, saying there is no limit for investment in the Islamic Republic. He noted oil, gas, and petrochemical industries as Iran's favorable fields for investment.

Afkhamirad further said that Iran provides suitable conditions for investment and can supply goods to the markets of neighboring countries as well as central Asian states.

"The Islamic Republic is surrounded with a huge market which needs various goods," he added.

Edited by CN

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