Iran saves €3.4mn currency in domestic parts manufacturing last year

TEHRAN, May 6 (MNA) – Islamic Republic of Iran saved over €3.4 billion worth of foreign currency in the field of domestic manufacturing of parts last year [ended March 20, 2020].

Minister of Industry, Mine and Trade Reza Rahmani made the remarks on Tue. and added, “the objectives of domestic manufacturing of industrial parts were realized through the conclusion of separate Memoranda of Understanding (MoUs) with other ministries and organization and also knowledge-based companies for indigenizing some imported parts and equipment.”

Following the sublime recommendations of Leader of the Islamic Revolution in realizing objectives of ‘Booming Domestic Production”, the Ministry of Industry put the developing production and deepening domestic manufacturing of parts atop agenda, Rahmani stressed.

With the studies made in the current year [started March 21, 2020], €3.2 billion worth of foreign currency will be saved in domestic manufacturing of parts, he said, adding, “once projects defined by the ministry are put into operation by 2021, more than €10 billion worth of foreign currency will be saved in the field of manufacturing various types of goods and parts in the country.”


News Code 158370


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