IRAN NEWS ECONOMIC DESK

TEHRAN –  Acting Minister of Industry, Mine and Trade says developmental projects in different sectors of industries and mines are underway despite all international sanctions and restrictions, and 200 industrial and mineral projects worth 170,000b tomans will come on stream by the yearend.

Hossein Modarres Khiabani said that several developmental projects in mining and industrial sectors are underway and it conveys a clear message that the country has not been negligent of its development and this is a good news for the people.

He also emphasized the necessity of informing the people of the latest production achievements of the country in different mining and industrial sectors, reiterating that the country has not fallen behind in development and implementing projects comparing to other states while the Coronavirus pandemic has affected the world and the Islamic Republic of Iran has a satisfactory record.

Modarres Khiabani noted that Iran is currently fighting with different viruses like sanctions, slump in oil price and COVID-19 but even in this tough condition, it signals a clear message that development in the country is underway and developmental affairs have not been halted.

He added that 200 projects will be launched and inaugurated under the campaign of “National Production, Sustainable Job and Constant Exports” and all will be inaugurated by the president. He noted that those projects with investments worth 170,000b tomans are to come on stream by the yearend.

Modarres Khiabani also said today the country needs exports and forex revenues more than ever and since the country has been administered by the non-oil exports revenue since the second half of last year, the ministry’s policy is to focus on providing the country with forex resulted from the non-oil exports, and steel and copper production chains can play a key role in materializing the target of the ministry.

He also pointed to $9b forex revenues from mineral and mining exports last year, adding that the ministry’s job is to protect mineral exports in the international market as well as monitoring the needs of the domestic market especially this year that the policy of the ministry is to strengthen exports.

Modarres Khiabani further said that one of the challenges ahead of national economy in the current condition is to create job, adding that exports, production and control of imports should lead to job creation and for this reason, attracting investors from the private sector in the developmental project is important and it should be pursued.

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He went on to say that all the aforementioned goods were exported to the Persian Gulf littoral states, India, China and Thailand.

It is targeted that $9.6 billion worth of products will be exported from this province by the yearend (to end March 20, 2010), he added.

Ghassemi pointed to the high capacities and potentials of Hormozgan province in the field of exports and added, “we are trying to boom small ports of this province in order to spur exports and export activities in the current year (started March 21, 2019).

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He added that China, Germany, the Netherlands, and Turkmenistan are the main foreign investors in the industrial projects in Razavi Khorasan in the said period.

As reported earlier, during the first three months of the present Iranian calendar year (ending June 21, 2019) the named province exported $480 million worth of non-oil goods.

“Some 956,000 tons of goods at the value of $408 million were exported in these three months,” Mesforoush said previously.

“The figure shows a growth of 62 percent in terms of weight,” he added.

“The exported products included saffron, apples, pistachio, steel bars, cement, some dairy products, etc.,” he added.

“Afghanistan, Iraq, Turkmenistan, Uzbekistan, the EU, Pakistan, Hong Kong, Kyrgyzstan, and Vietnam were the export destinations for the products of the province,” Mesforoush added.

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He pointed to the development projects of the ministry in the field of industrial parks and added, “development projects are underway in 77 industrial parks and areas across the nation.”

Salehinia put the number of industrial parks and areas in the country at about 1,100 and added, “according to the latest statistics, Small- and Medium-sized Enterprises (SMEs) exported $4 billion worth of products last year (ended March 20, 2019).”

Elsewhere in his remarks, he pointed to the construction of 466 industrial clusters in the country and added, “these clusters are active in 97 projects including saffron, honey, carpet, etc.”

Salehinia put the number of industrial parks and areas under construction at 810 and said that Iran is home to nine special economic zones.

The Ministry of Industry has supported more than 33,700 industrial units for participating in domestic and foreign exhibitions, the deputy minister highlighted.

About 210 foreign investors have made major investments, valued at over $2 billion, in Iran’s industrial and trade units which have generated employment opportunities for 17,000 job-seeking people.

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In the same period, 113,400 tons of cartons and pasteboard were produced in Iran, showing a 45.4 percent growth as compared to the same period of last year.

Also, domestic factories produced 103,300 cubic meters of chipboard in the first two months of the current year, registering a 13.2 percent growth as compared to the same period of last year.

Statistics showed that 91,300 cubic meters of chipboard was produced in the country in the first two months of the last year.

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This huge volume of foreign investment was approved for 83 mining and mineral projects.

A number of 88 mining and mineral projects, valued at $3.497.100 billion, was approved in 2017, showing a considerable 68.5 percent decline in terms of value as compared to a year earlier.

Producing a variety of beverage products, air-conditioners for vehicles, offering sales and after-sales services, manufacturing compressed sheets and ferrosilicon manganese, detergents, photovoltaic solar cells, etc. are of the salient projects which were launched using Foreign Direct Investment (FDI).

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During the visit, the foundation of the Azerbaijani-Iranian bus assembly plant will be laid in Hajigabul Industrial Site. The parts for buses will be also produced there.

The opening ceremony of the Iranian Trade Center will be held in Azerbaijan during Rahmani’s visit.

The bilateral economic and energy projects between Azerbaijan and Iran, the North-South International Transport Corridor, the Rasht-Astara railway project, the issues of cooperation in the field of holding exhibitions, signing of memorandums of cooperation will be discussed during the Iranian minister’s visit.

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Billet and bloom output stood at 12.958 million tons, while that of slab reached 9.738 million tons.

Hot-rolled coil had the lion’s share of finished steel production with 7.277 million tons, up 3% year-on-year.

It was followed by rebar with 7.102 million tons, up 24% in comparison with last years 11-month period.

Production of cold-rolled coil stood at 2.34 million tons, up 14%, while the production of coated coil with 1.272 million tons observed a 9% fall.

Iran aims to become the world’s sixth largest steel producer as per the 20-Year Vision Plan, which targets annual production capacity expansion to 55 million tons and 20-25 million tons of exports per year by 2025. Iranian steel mills have so far realized just over 30 million tons of the capacity target.

Iranian steelmakers produced 21.88 million tons of semis and 19.77 million tons of finished goods last fiscal to register a 19% and 9% YOY growth respectively. They exported 6.87 million tons of semis and 1.62 million tons of finished steel during the period, recording an 84% growth and a 10% downtick YOY respectively.

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Potato, tires, plastic products, dairy products and glass were among the main goods exported during the period.

Iraq, Azerbaijan and Afghanistan are among the major export destinations for commodities exported from Ardabil.

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He revealed the upcoming visit of President Rouhani to Iraq for broadening and enhancing bilateral trade and business ties.

The two sides are deeply interested in increasing bilateral trade and economic ties, he said, adding, “people, traders and officials of the two countries of Iran and Iraq have established friendly relationship with each other.”

The two countries of Iran and Iraq share cultural commonalities based on good neighborhood policies and enjoy high potentials for broadening and expanding mutual relationship, Rahmani added.

Head of Trade Promotion Organization of Iran (TPOI) Mohammadreza Modoudi and Head of Institute of Standards and Industrial Research of Iran (ISIRI) Nayyereh Pirouzbakht also attended the meeting.

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