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No industry subsidies paid by Iranian gov’t yet

Business Materials 27 December 2015 14:33 (UTC +04:00)
A $66.4-million subsidies that the government was going to pay for the industrial sector has not been paid yet.

Tehran, Iran, December 27

By Mehdi Sepahvand -- Trend:

A $66.4-million subsidies that the government was going to pay for the industrial sector has not been paid yet, said Mohammad Ali Seyyed Abrishami, deputy minister of industry of Iran.

He said if the subsidies are paid, all of it will go into small industrial units, part of which will be paid as interest subsidies of facilities, ISNA news agency reported December 27.

Since small industries have been hit less by sanctions, most of the policies are focused on providing liquidity for the units and not much attention is paid to sanctions, he noted, adding, however, that once sanctions are lifted, the economic situation in general will grow better.

Abrishami added the ministry plans to organize production guilds. "We are going to invite production guilds from provinces and see what they need so that proper action is taken," he added.

"It is possible that in industrial zones with enough space, we will set part of the zones aside for guilds so that they move there and start working at shops there."

Deputy Director of Iran Small Industries & Industrial Parks Organization Qolamreza Soleimani said that small industries' exports account for only 10 percent of the country's total non-oil exports.

"The Iran Small Industries & Industrial Parks Organization is developing a plan to increase small industries' exports in the future," he said Oct. 29.

Soleimani said on June 22 that foreign investors invested some $783 million in Iran's industrial parks in the 12-month period with ended on March 20.

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