Iran injects $123M into exports promotion
Tehran, Iran, April 23
By Mehdi Sepahvand – Trend:
The Iranian Parliament has authorized the allocation of $123 million to exports promotion, Minister of Industry, Mine, and Trade Mohammad Reza Nematzadeh said.
However, the minister expressed concern that the budget may not be actually paid entirely, as last year only 50 percent of that year’s target $92.4 million budget had been paid to the ministry to be used, IRIB news agency reported April 23.
In the meantime, he said, the Ministry of Economy has signed some $5.6 billion worth of contracts with foreign investors. The production contracts signed with foreigners during the Rouhani administration all include an article requiring a minimum 30 percent export of the products.
Iran's non-oil exports including gas condensates reached $43.93 billion during the last Iranian fiscal year (ended March 20, 2017).
The figure indicates a rise by 3.54 percent compared to the same period of preceding year.