TEHRAN - The Special Assistant to the Deputy Oil Minister for Petrochemical Affairs has announced that Iran’s total nominal petrochemical production capacity must reach 131.5 million tons by the end of the 7th Development Plan. Achieving this goal will require an estimated $24 billion in investment, making innovative financing models essential.

TEHRAN - President Masoud Pezeshkian emphasized the urgent need for implementing a nationwide electronic system to assign identification codes to all domestically produced and imported goods, saying it could significantly curb smuggling, prevent hoarding, and reduce national costs.

TEHRAN - The 25th International Building Industry Exhibition, the largest and most prestigious event of its kind in Iran and the Middle East, will be held from August 17 to 20 at the Tehran International Permanent Fairground.

TEHRAN - The Deputy for International Business Development at Iran’s Trade Promotion Organization announced the launch of an "Export Readiness Assessment" (ERA) program aimed at supporting small and medium-sized enterprises (SMEs), backed by the organization. He highlighted that the current average export value per ton of Iranian goods stands at $370 to $380, but this figure could rise to approximately $1,200 if raw material exports were eliminated.

TEHRAN - The Vice President of the Iran Chamber of Commerce has proposed the establishment of export consortia based on small and medium-sized enterprises (SMEs) in the industrial province of Qazvin, aiming to boost the region’s economic potential.

TEHRAN - Iran’s dairy industry, a key player in the nation’s food sector and daily diet, is facing a mix of opportunities and challenges — from electricity outages and tight competition to significant export growth. According to Mohammad Farbod, spokesperson for the Iranian Dairy Products Industries Association, the sector has maintained full domestic supply while expanding its international reach.

TEHRAN - The Deputy Director for Operations and Support at the Pars Oil and Gas Company announced that major overhauls on 16 offshore gas platforms in the South Pars field have been completed this year, with work on one more currently underway. The remaining platforms are scheduled for completion by the end of October.

TEHRAN - Financial Intelligence Center has confirmed that the Financial Action Task Force (FATF) has officially invited the head of the center to participate in in-person negotiations — the first such direct engagement in six years. The move follows recent steps by Tehran to address international concerns over money laundering and terrorism financing.

TEHRAN - Iran’s Trade Promotion Organization (TPO) announced a 22% rise in exports to Eurasian Economic Union (EAEU) member states during the spring of this year. In response to recent speculation regarding the import of pets such as cats and dogs from Eurasia, the organization clarified that non-essential goods do not appear among Iran’s primary imports from these countries.

TEHRAN - In a pivotal meeting with digital economy stakeholders, Iran’s Minister of Economic Affairs and Finance, Seyed Ali Madanizadeh, emphasized that the digital economy holds the key to overcoming the limitations of Iran’s traditional economic structure and revitalizing the country’s overall economy.