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Export from knowledge-based firms hit $1b

mahla — Sun, 26 Feb 2023 21:04:45 +0000

TEHRAN (Iran News) –Iranian Vice President for Science, Technology and Knowledge-based Economy Rouhollah Dehqani Firouzabadi said the country’s knowledge-based companies have managed to export $1 billion worth of products in the current Iranian calendar year (started on March 21, 2022).

Speaking to the press at Isfahan University of Technology (IUT), Dehqani Firoozabadi said that the achievement has been made despite all limitations, IRNA reported on Saturday.

He added that nearly 1,600 knowledge-based companies have been registered across the country this year, while the figure was between 700 and 800 last year.

With about 8,000 knowledge-based companies active in the country, there is a huge potential in this area that can make a big impact on the economy if it is managed properly, he said.

The law for promoting and supporting knowledge-based companies was approved by the Majlis (Iranian parliament) in 2010, paving the way for a jumpstart in the march toward scientific progress.

Accordingly, the Islamic Republic has developed plans to support and empower knowledge-based companies as a step forward to materialize the goal of the year which is “Knowledge-based Production and Job Creation” as the economy is fighting the U.S. sanctions.

The Iranian banking system paid 584.4 trillion rials (about $1.2 billion) of facilities to 1,404 knowledge-based companies in the first half of the current Iranian calendar year (March 21-September 22, 2022), registering a 100.2 percent rise compared to the same period last year.

Back in April 2022, Iranian Industry, Mining, and Trade Minister Reza Fatemi-Amin said supporting knowledge-based products was one of the country’s new priorities in setting foreign trade policies for the current Iranian calendar year.

Over the past couple of years, the number of knowledge-based companies in Iran has increased significantly so that currently over 8,000 knowledge-based companies are active in different fields, ranging from information and communication technology to health, agriculture, and energy.

Various knowledge-based companies have made advancements in different fields, however, the level of progress in the fields of health, ICT, agriculture, and energy has been more noticeable. Of course, other sectors such as the automotive industry have removed many bottlenecks so far.

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Annual bank loans paid to knowledge-based firms up over 108%

mahla — Sun, 29 May 2022 04:41:30 +0000

TEHRAN (Iran News) – Iranian banking system paid 669.4 trillion rials (about $2.585 billion) of facilities to 1,362 knowledge-based companies in the past Iranian calendar year 1400 (ended on March 20), to register a 108.2 percent rise compared to the preceding year 1399.

As reported by Mehr News Agency, Bank Mellat accounted for the biggest share of the paid facilities with 112.9 trillion rials (about $436 million), followed by Bank Melli with 94.4 trillion rials (about $364.6 million) of offered facilities.

The Islamic Republic has developed plans to support and empower knowledge-based companies as a step forward to materialize the goal of the year which is “Knowledge-based Production and job creation” as the economy is fighting the U.S. sanctions.

Back in April, Iranian Industry, Mining, and Trade Minister Reza Fatemi-Amin said supporting knowledge-based products was one of the country’s new priorities in setting foreign trade policies for the current Iranian calendar year (started on March 21).

“One of our priorities in foreign trade is to export knowledge-based goods instead of raw or semi-raw materials,” Fatemi-Amin said.

“This year, considering the slogan of the year which is “Knowledge-Based Production and Job-Creation”, we are completely revising the criteria for selecting the country’s top exporting companies, so that companies exporting knowledge-based goods are given more importance and would be among the top manufacturers,” the minister said.

The law for promoting and supporting knowledge-based companies was approved by the Majlis (Iranian parliament) in 2010, paving the way for a jumpstart in the march toward scientific progress.

Over the past couple of years, the concept of ‘knowledge-based company’ has changed to ‘knowledge-based society’, meaning that supporting knowledge-based companies will lead to many social and economic advantages for the public.

The number of knowledge-based companies has increased from around 50 in 2013 to more than 5,700 in the previous Iranian calendar year.

Currently, many knowledge-based companies are active in different fields, ranging from information and communication technology to health, agriculture, and energy.

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Iranian Government Offers Support Package for Dynamic Firms

reporter 1222 — Tue, 21 Jul 2020 07:03:19 +0000

TEHRAN (Iran News) – The Iranian government is offering a wide-ranging package to help protect some of the most dynamic sectors of the economy.

Delivered in partnership with several private banks and the National Innovation Fund, the Iranian government has for the third time announced a new coronavirus package to protect small- and medium-sized firms stimulating innovation in the country, Press TV reported.

This includes an investment fund for small companies impacted by the crisis, made up of funding from the government and the private banking sector.

New technology-based companies focusing on research and development will also benefit from the new grants and loans.

The comprehensive package will soon include a new loan scheme for high-growth firms employing more than 50 personnel. This includes targeted support for giant tech companies and businesses focusing on growth and development, as well as coronavirus research and treatment.

Iran is a regional frontrunner in innovation and at this hugely challenging time, its young, fast-growing firms are being offered support to navigate the post-COVID-19 recovery.

The new grants and funds are available until the end of July, and the scale of the fund will be kept under review.

At the moment, at least five firms are developing vaccines for the coronavirus in Iran. Many more new technology-based companies are also producing equipment needed to tackle the disease despite US sanctions and economic restrictions.

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Most French Firms ‘won’t be able to stay’ in Iran

reporter 1222 — Tue, 19 Jun 2018 14:00:49 +0000

Most French companies will find it impossible to continue doing business in Iran after US imposes its new sanctions to the country, said Finance Minister Bruno Le Maire on Tuesday.

These companies “won’t be able to stay because they need to be paid for the products they deliver to or build in Iran, and they cannot be paid because there is no sovereign and autonomous European financial institution” capable of shielding them, Le Maire told BFM television, Dailymail reported.

“Our priority is to build independent, sovereign European financial institutions which would allow financing channels between French, Italian, German, Spanish and any other countries on the planet,” he added.

“It’s up to us Europeans to choose freely and with sovereign power who we want to do business with,” he said, highlighting, “the United States should not be the planet’s economic policeman.”

US President Donald Trump pull out of Joint Comprehensive Plan of Actions (JCPOA) in May and announced that he will re-impose tough economic sanction on Iran.

French oil group Total and carmaker PSA have already indicated they are unlikely to stay in the country, while carmaker Renault has said it will remain despite the sanctions – though it does not sell its cars in the US.

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15 foreign firms keen on investing in Iran’s ICT

reporter 1222 — Wed, 15 Nov 2017 08:25:48 +0000

TEHRAN – Fifteen foreign companies have voiced readiness to invest in Iran’s information and communication technology projects, CEO of the Office of Innovation and Investment Support at ICT Ministry said Sunday.

Hamid Ahmadian told Mehr News correspondent on Sunday that Iran’s ICT Corridor, which is currently in its second phase and will fully come on stream in 2021, has been in talks with 15 foreign companies which have voiced their readiness to invest in Iran’s various ICT projects.

According to him, the negotiations with the investors focused on particular fields such as electronic health, logistics and the Internet of Things, all in accordance with market identification.

“In the near future and with the participation of the first team of investors in the aforementioned fields, our cooperation with major, international firms active in the ICT sector will see a remarkable boom,” he added.

Ahmadian went on to stress that the ICT Corridor will allow Iran to better encourage foreign companies to invest in the country’s projects.

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