​Dr. Seyed Reza Norouzzadeh, the deputy minister of industry, mining, and trade as well as the chairman of board of directors of the Industrial Development and Renovation Organization of Iran (IDRO), attended an educational workshop for journalists and media persons and outlined the previous achievements, current situation, and the existing challenges facing the organization.  He said that IDRO was established in 1967. Referring to activities of IDRO both before and after the Islamic Revolution, he said: “IDRO enjoys a reliable and very well-defined Articles of Association which can be helpful in running the organization. According to its Articles of Association, although IDRO is a government organization, but it is run as a privately-owned company based on the trade act.”The chairman of IDRO referred to duties of developmental organizations, saying that the development of technologies, the provision of infrastructures for training managerial staff, and the absorption of capital for renovating and revamping industries, are among the main responsibilities of the Industrial Development and Renovation Organization of Iran.The main policy is to encourage foreign companies to invest significantly in Iran, not just to think about expanding their business and sale market. Transferring shares of domestic carmakers to foreign companies will be acceptable only if Iranian expertise is used in joint ventures, he explained.According to the privatization law, there are no limitations for transferring shares of domestic companies to the private sector, he said, adding: “As a government organization, we are allowed to hold 20 percent of the market share in order to be able to play governance role.”Norouzzadeh also said Iran Khodro Semnan will be transferred to the private sector in order to launch a car production plant in cooperation with foreign carmakers.