Iran Expects Imports to Shrink $10b by 2021
IRAN NEWS ECONOMIC DESK
Minister of Industry, Mine and Trade Reza Rahmani yesterday said that the ministry is planning to decrease imports volume $10b by 2021.
Addressing the second specialized meeting on deepening indigenizing auto industry in Tehran, Mr. Rahmani reiterated that the country is determined to reduce the volume of imports and it is expected that with the coordination made, Iran’s import of products to decline $10 billion by 2021.
He added, “Materializing the said objective requires $2 billion worth of investment.”
Of total $10 billion, $1.2 billion, $500 million and $2.7 billion will be saved in textile-apparel, cellulose and chemical industries respectively.
Rahmani hailed efforts taken in the Central Bank of Iran (CBI) for the provision of liquidity needed for industries especially in the six months of the current year.
He further pointed to the provision of liquidity as the most important concern of production boom in the country and said, “With the coordination made in this regard, giant steps have been taken in this regard in order to settle the problem.”(Iran Expects Imports to Shrink by 2021)
Rahmani also pointed to plans for manufacturing more 260,000 cars in the current year comparing to last year, adding that the plan needs 6,000b tomans current capital as well as 500m euros of forex investment.
