Industry ministry to eliminate nearly $10b of imports by 2023

Iranian industry minister said by the Iranian calendar year of 1402 (starts in March 2023) nearly $10 billion worth of imports in the country’s industrial sector will be prevented by replacing them with domestically-made products.

Reza Rahmani made the remarks during the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO)’s annual general assembly on Sunday, IRIB reported.

The official noted that the industry ministry is following seven major programs in the current calendar year, one of which is pertain to the mining sector and it includes activating small mines, completing production chains, exploration and etc.

According the IMIDRO’s annual report which was presented in the gathering, the organization is planned to inaugurate over $4 billion worth of projects by the end of the current Iranian calendar year (March 19, 2020).

With the mentioned projects going on stream, more than 4,000 job opportunities will be created across the country, according to the report.

The report also put the value of inaugurated projects in the past Iranian calendar year at about $2 billion, which had also created jobs for 3,800 people.

According to the report, IMIDRO's subsidiaries exported more than $9 billion worth of different commodities in the past Iranian calendar year of 1397 (March 2018-March 2019), accounting for 20 percent of the country’s total non-oil exports.

Boosting production, creating jobs, providing infrastructure and making joint venture with the private sector have been underlined as the main pivots of IMIDRO’s policy making.

Given the policies of IMIDRO, planning for stable development of the chain of products, taking the most benefits of the private sector’s capabilities, cooperation with the guilds and associations, reducing the risk of investment making, and indigenization of technology will be taken into account once implementing the mentioned projects.
Meanwhile, IMIDRO Head Khodadad Gharibpour has recently stressed that his organization has accomplishing semi-finished projects as its top priority.