Tehran, Iran, Jan. 2
Trend:
Iran’s Ministry of Industry, Mining and Trade seeks to improve domestic production in order to cut dependence of industrial products on foreign currency.
“The priority of the industry ministry this Iranian year (started March 21, 2018) is to support domestic products to reduce dependence on foreign currency,” said deputy minister Farshad Moghimi, Trend reports citing IRNA.
“This will improve the domestic production and reduce the need in foreign currency for raw material import,” he added.
The Ministry of Industry, Mining and Trade prefers to develop domestic production in case the import costs rise, so it will gradually cut dependence on foreign imports.
Moghimi noted that Iran will aid production sector by facilitating the import of spare parts and machinery from free zones.