Iranian science-based companies make $6.2B

Business Materials 13 November 2016 17:55 (UTC +04:00)

Tehran, Iran, November 13

By Mehdi Sepahvand – Trend:

The revenue of science-based companies in Iran is $6.2 billion, says Vice President for Science and Technology Sorena Sattari.

Recently the government has allocated $3.1 billion to the development of the science-based market, he told during an MoU signing ceremony with the Ministry of Health.

“The health sector has been so lucrative and we can use our scientific minds in this sector,” he said.

“The export value of one vial of biotech medicine is equal to that of 200 barrels of oil.”

Sattari said one fifth of the government-allocated $3.1 billion will go to the development of the science-based market of the health sector.

“Over 50 percent of our tax exemption go to the health sector,” he noted.

Government spokesman Mohammad Baqer Nobakht on November 8 told Trend that the science-based sector is one of the two high-priority areas of development on agenda, the other area being petrochemicals.

Accordingly, the science-based market is being considered as the biggest source of non-oil revenue in Iran.