Iran exporting biological drugs to more than 10 countries: official

Business Materials 21 June 2018 21:48 (UTC +04:00)

Tehran, Iran, June 21

By A. Shirazi - Trend:

Iranian Vice-President for Science and Technology Sorena Sattari said the country is exporting many of its domestically-made biological drugs to different countries.

“Iran ranks first in the Middle East in terms of producing biological drugs,” Sattari said on June 21 addressing the 2nd International Iran-Europe Economic and Technological Conference in the Belgian capital, Brussels, IRNA news agency reported.

Today, the country’s biological drugs are being exported to at least 10 countries, he added.

In recent years, Iran’s private companies have been pressing ahead with the production of biological pharmaceuticals. The country also has a relatively advanced herbal medical basis thanks to its vast floral resources.

Saying that knowledge-based firms and internet start-ups are establishing a foothold in Iran’s business, Sattari said, “Start-ups are now making billions of dollars in Iran."

He said the reason behind this boom is linked to the country’s recent innovations in job and entrepreneurship.

Iran ranks 72nd among 137 countries in the 2018 Global Entrepreneurship Index report of the Global Entrepreneurship and Development Institute, which shows a 13-notch improvement compared to 2017.

The country also ranks 11th among 15 countries in the Middle East and North Africa region.

GEI is an annual measure of the health of entrepreneurship ecosystems in the 137 countries it reviews, ranking their performance against each other. This provides a picture of how each country performs in both domestic and international context.

The institute collects data on entrepreneurial attitudes, abilities and aspirations of the local population and then weighs these against the prevailing social and economic infrastructure, which includes broadband connectivity and transport links to external markets. It creates 14 pillars that the institute uses to measure the health of the regional ecosystem.

The United States, Switzerland, Canada, the UK, Australia, Sweden, France, Denmark, Iceland and Ireland were the 10 best-scoring countries in the 2018 Global Entrepreneurship Index in a descending order.