IDRO deputy director for industrial investments:

IDRO supports establishment of economic holdings and consortiums

The Industrial Development and Renovation Organization, as the largest development organizational in Iran’s industry sector, is ready to boost collaboration and cooperation with economic enterprises in order to establish industrial and commercial holdings and consortiums. It will spare no effort in this regard.

 Gholamreza Keramatifard, the deputy director of the Industrial Development and Renovation Organization for industrial investments, said that job creation and production will be materialized through proper investment, continuous production, attaining export markets, and competing with foreign rivals as well as imported goods at domestic markets.

Domestic industrial products have not gained the power of competition with their foreign rivals in international markets even under all the supports, he said.

Foreign rivals have provided more suitable environmental situations for industrial production, he said, adding that they implement production projects in larger scales. So, they have the capacity to find new markets, reduce end prices, make continuous innovations, introduce new brands, and supply high quality products. This happens while production in limited scale does not usually realize such goals.

The activity of large and capable companies will contribute to the development of small companies, he stressed.

The IDRO official said that there is no solution but to provide the ground for establishing large holding economic companies and enterprises. This goal will be attained through merging a number of enterprises or through establishing consortiums and launching joint ventures by investment, trade, and commerce companies to conduct marketing and selling under a common brand.

“I urge all the domestic production and manufacturing formations and unions to boost their cooperation with economic enterprises for merging, establishing consortiums and holdings, joint planning, and imposing crack down on exports of low-quality products. They should seriously follow such issues. IDRO will spare no effort to support them in this regard.”

Iran is among the ten top countries in the world with holding over 60 kinds of minerals. It is among the twenty top countries in terms of car and steel outputs. It holds over 155 billion barrels of recoverable crude oil and gas condensates. It ranks the first in the Middle East in zinc and lead production. It is among the ten top countries in the world in copper, cement, and decorative stones production. These all show potentials and capacities of the country for export-bound production. The potentials should be taken advantage of, he concluded.