Investment making in Mazandaran Province’s industry sector rises 29% in H1

Investment making in the industry sector of Iran’s northern Mazandaran Province rose 29 percent in the first half of the current Iranian calendar year (March 20-September 21) from the first half of the past year, according to a provincial official.

Hossein-Qoli Qavanlou, the head of Mazandaran Province’s Industry, Mining and Trade Department, said that 20.12 trillion rials (about $479 million) of investment has been made in the industry sector of the province in the first half, while the total investment made in the past year has been 15.61 trillion rials (about $371.6 million).

According to the latest data released by Iran’s Industry, Mining and Trade Ministry, during the first half of the current year, 18,766 permits have been issued for establishing new industrial units in the country, which mark a 47-percent increase year on year.

As previously announced by the ministry, the issuance of permits for setting up industrial units in the country increased 16 percent in the past Iranian calendar year (ended on March 20, 2019).

Most of the issued permits were related to the food industries; and Semnan, Qom, and Khorasan Razavi were the provinces receiving the highest number of permits.

Last month, the head of Iran Small Industries and Industrial Parks Organization (ISIPO) announced that 670 idle industrial units had been revived throughout the country since the beginning of the current Iranian calendar year.

He said: "Despite all the limitations, we are currently witnessing an increase in production in some units, for example, those active in the field of home appliances; also, according to the plans made and by solving the problems in the way of the production and industrial units, we will realize the motto of “Surge in Production” by the end of this year.”

Strengthening domestic production to achieve self-reliance is the most important program that Iran is following up in its industry sector in a bid to nullify the effects of the U.S. sanctions on its economy.

To this end, the current Iranian calendar year (began on March 20) has been named the year of “Surge in Production”, and all governmental bodies as well as the private sector are moving in line with the materialization of this motto.

Regarding its significant role in the realization of the mentioned goal, the Industry, Mining and Trade Ministry has already defined its main programs for supporting domestic production in the current year.

The ministry’s seven main axes of the surge in production are going to be pursued under 40 major programs.

source: TehranTimes

Industrial Parks Organization ISIPO