Industry minister calls for tax incentives

TEHRAN, Oct. 21 (MNA) – Iran’s industry minister has called for tax incentives for joint ventures with foreigners.

Speaking at the conference on National Day of Export, Mohammad Reza Nematzadeh referred to export as a necessity and not an option and saiying, “focusing on exports is a means to maintain our position in the world and to provide job opportunities for the country’s.”

“In order to achieve 8 per cent of economic growth over the next five years, we need to consider the development of exports,” said Nematzadeh adding, “export leads to the revival of national pride and economic prosperity and the 20 per cent increase in Iran’s non-oil exports in 2014 was the result of our exporters’ efforts.”

“According to global statistics, Iran’s exports in 2014 reached 0.34 per cent of the total world exports ranking 51st among 229 countries,” he asserted demanding for tripling of non-oil exports in order to fulfill the ministry of industry’s strategic plan to increase exports of goods and services from $63bn to $190bn.

Industry minister further added, “fortunately, Leader has issued extremely valuable policies in the fields of exports and economy and we hope to trigger a change in our export by relying on them.”

He pointed to the removal of barriers to competitive production and reiterated that most of the legislation and regulations have been approved; “in order to support export we need to provide tax incentives for joint ventures with foreigners,” Nematzadeh stressed urging a 50 per cent tax discount for foreign investors in domestic production as well as 20 per cent export of their products.

He further warned against bans on exports and called for provision of finance and funds through the National Development Fund and foreign finance credit lines.

“The country’s banking system should design an intensive program to support exporters and we need to create foreign agencies in global markets on the part of exporters,” Nematzadeh demanded.

 

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News Code 111265

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