$2.5b for Reconstruction and Innovation of Iranian Industries

$2.5b for Reconstruction and Innovation of Iranian IndustriesOn May 24th an instructions issued by the Government for facilitating funds and loans for the S&M companies. Later, on June 11th, an announcement predicted 7 pre-conditions for the banks and credit lines for defining the eligible companies. The on July 9th 2017, the Deputy to the IMT Minister promised for financial facilities for reconstruction and renovation of the Iranian industries. Finally, on July 22nd the “National Development Fund” announced the conditions for the industries that are eligible to receive these facilities. Now, it is the time for registration of the companies that are able to fulfill the requirements needed by the banks and the CBI for acquiring these funds. The latest announcements on this issue are published at the next paras:

Mohsen Salehinia (above photo), at a news conference referring to the launch of the announcement by the Central Bank to pay 30.000 billion Toomans (1 Tooman=10 Rls.) to the manufacturing companies two days ago, stated: 10.000 billion Toomans from the facility will be allocated to 10 thousand small and medium size industrial units.

He added: Further 10 billion Tomans are also intended to complete semi-finished projects in 6,000 industrial units, and in addition, there are facilities for upgrading and modernizing 5,000 production units.

Further to Mohsen Salehinia’s approach, and referring to the necessity of modernization and reconstruction of the country’s industries, Reza Rahmani another IMT vice-minister said: “According to the proposal of the Ministry of Industry, Mines and Trade, and the approval of the Resistance Economics Committees, 10 trillion Toomans will be allocated to production units to replace worn out devices with new lines.
He added that the facility will also has a currency division that we are trying to provide through the National Development Fund and make it available to the manufacturing units. According to the plans, it is expected that 5000 units will be renovated with this facility; each unit that needs it and can use this facility from any industrial sector.
The deputy IMT Minister also said: “The payment instructions for this facility have been communicated to all the provinces and it is clear that each province will receive the facility.”
He said production units are prioritized on the basis of the identified components. For example, polluting units or high energy consumption will be prioritized, and the mining and trading organization of each province will select qualified entities.
Deputy Minister of Industry, Mines and Trade said: “It is planned that the modernization facility will not go to large units, and the share of small and medium-sized units have also be seen.”
Rahmani said that he will provide 10 trillion Tooman to the central bank and the instructions for the modernization of production units will be communicated to all the provinces. At the end, he hoped that the facility would be able to boost production and increase the employment and competitiveness of Iranian goods with foreign products.

Based on the above approaches, the National Plastics Association has organized a gathering in order to make the managers of the plastics industries familiar wit the conditions of utilization of these funds. According the so called association:

Exporters, commercial and financial managers of plastics industry groups can get acquainted with how they can receive these facilities at a meeting on how to obtain modernization facilities with the goal of expanding exports and technology transfer in the plastics industry.
The meeting will be held at the Iranian Chamber of Commerce on Tuesday, Oct. 24th 2009 from 13 to 15.
This meeting will be held simultaneously with the forty-fifth meeting of the Export Commission of the National Plastics Association, which will be free for all manufacturers of the plastics industry. It is worth noting that those present at the meeting can visit the National Plastic Association’s export adviser one day a week to use the free advice and guidance to write the project and use the advice of the community adviser.

$2.5b for Reconstruction and Innovation of Iranian Industries

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