Financial funds of ISIPO to be doubled before autumn: chief

TEHRAN, Aug. 10 (MNA) – Head of Iran Small Industries and Industrial Parks Organization (ISIPO) Mohsen Salehinia announced on Saturday that the financial resources of the fund will be doubled by the end of the summer.

“The fund’s capital will be increased from its current 1.1 trillion rials (about $9.2 million) to 2.2 trillion rials (about $18.5 million) by the end of summer,” he said.

“Having its resources increased, the organization can improve its facilities up to 5 time or 6 times more than its available fund,” he added.

According to Salehinia, from among 43,650 industrial units in Iran, some 77.5 percent, i.e. 33,800 units, are presently active.

In a bid to protect Iranian economy and prosper industrial parks, some 400 trillion rials (about $9.52 billion) of financial resources is planned to be granted to Small and Medium-sized Enterprises (SMEs) this year.

ISIPO reportedly plans to expand the infrastructure of these production units, concentrate on increasing employment and job creation in them, improve their business environment, and supply the working capital of these production units to reach the set targets by the yearend.

Leader of Islamic Revolution Ayatollah Seyyed Ali Khamenei has named the Persian New Year, 1398, as the ‘Year of Boosting Production', which can solve the country’s economic problems and cut dependency on foreigners.

HJ/FNA 13980519000327

News Code 148698

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