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  • 14-02-23

    Iran revives over 1,000 idle production units in ongoing Year, grows industrial estates

    (MENAFN) According to a provincial official in Khuzestan province, 74 previously idle production units have been revived in the region in the current Iranian calendar year, which began on March 21, 2022. Mohammad-Mehdi Baradaran, the deputy industry, mining and trade minister, announced the news during a trip to Khuzestan for the inauguration of a steel project. This revival of production units is part of a larger effort by Iran to boost its industrial sector and promote economic growth.

    Moreover, the head of Iran Small Industries and Industrial Parks Organization (ISIPO), Ali Rasoulian, revealed that a total of 1,191 idle production units have been revived in the industrial estates and zones of the country since the beginning of the current Iranian calendar year. This signifies a significant increase in productivity, which in turn has a positive impact on the Iranian economy.

    In addition to reviving idle production units, Iran has also been expanding its industrial estates. Rasoulian noted that many lands were added to industrial estates last year, and this year, the focus has been on providing infrastructure for these lands. So far, infrastructure has been provided for 2,151 hectares of lands. This expansion of industrial estates is expected to attract more businesses to the region and promote job creation.

    Furthermore, Iran has been in talks to establish joint industrial estates with other countries, including Turkey, Iraq, Azerbaijan, and most recently, Armenia. However, if these joint industrial estates are to be established at the border zero point, there is a need to change the laws and regulations and gain approval in the parliament. This highlights Iran's efforts to expand its trade and investment relations with neighboring countries and promote regional economic integration.

    Overall, Iran's efforts to revive idle production units and expand industrial estates demonstrate its commitment to promoting economic growth and diversifying its economy. With the expansion of its industrial sector and increased collaboration with neighboring countries, Iran aims to strengthen its position as a regional economic powerhouse.

    MENAFN14022023000045014228ID1105569814

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