Over 1,700 Industrial Units Revived Last Year
A total of 1,726 industrial units, out of the 10,380 inactive ones in Iran, were revived in the last Iranian year (March 2018-19), while 529 were revived during the first half of the current Iranian year (March 21-Sept. 22).
Iran has a total of 44,432 industrial units, 23.36% of which (10,380) were inactive prior to the revival of aforementioned units. A total of 178,628 people were employed in the inactive units,
Among the units that are not functioning, 62% went out of business in the fiscal 2016-17 while 38% closed down in the following year.
About 77% of the inactive units (8,012) stopped operating due to lack of money supply; 16% due to lack of market for their products; 3% due to conflicts among partners; 3% due to problems associated with supply of raw materials; and 1% due to impairment of machinery.
As per the plans of the Ministry of Industries, Mining and Trade, 1,334 industrial units are planned to be revived by the end of the current Iranian year (March 19, 2020).
source: Financial Tribune
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