Addressing the Industry and Mine National Day ceremony yesterday, Reza Rahmani said that despite sanctions and other problems, industrial sector of the country performed very well last year in order to boost the production capacities.

IRAN NEWS ECONOMIC DESK

He also called for boon in the industry sector and saving the factories from shutdown. He reiterated in some industries like rail industry there is huge capacity for investment and it needs necessary financial resources.

Rahmani added that by strengthening the domestic production it can boost industry, underlining the indigenizing in different industries.

He noted that all industries have potentials to be indigenized and all industrial units have been ordered to provide their needs from the domestic market.

The minister admitted the economic growth for the current year is predicted to be minus six percent  but according to the recent developments in the country, it is expected the economic growth to be between minus 2 or minus 2.5 percent.

He went on to say that the U.S. sanctions have targeted the national industry but due to the government’s policy and plans, impacts of the sanctions have lessened.

Rahmani noted that boosting domestic production and revival of mining sector have been on the agenda for this year.

He further added that the volume of imports in the current year has declined and exports have been on the rise, reiterating that apparel imports last year fell by 33 percent and its exports increased by 6 percent. He also added that at the same time, the volume of shoes imports fell by 77 percent and its exports rose by 24 percent.

The minister reiterated that boosting exports to 15 neighboring states is the main policy of the ministry as well as controlling the domestic market.

He urged all organs and related bodies to work together to prevent factories from being closed down.

Rahmani noted that the ministry has plans for this year to activate rail and ship-building industries and it has plans for inaugurating 100-billion-toman project in the mining sector.

He emphasized that the ministry has no limit in confronting corruption and it backs transparency and fair competition.

He concluded that the main problem for domestic production is the finance and the ministry is working to find mechanism to support production units.