The Ministry of Industries, Mining and Trade plans to curb imports worth $3.4 billion in domestic industries during the current fiscal year (started March 21), a considerable share of which pertains to the automotive sector.
According to Deputy Industries Minister Saeid Zarandi, the goal is to be achieved through 14 localization projects, the ministry’s website reported.
The official added that the ministry is committed to streamlining car production and supporting auto parts makers and tire manufacturers.
“The ministry also plans to help revive 2,000 industrial businesses in the coming months. The businesses were closed due to Covid-19 and economic difficulties,” he said, adding that a large number of these firms are linked to automotive industries.
He noted that with state support and the technical assistance of knowledge-based companies, 1.2 million passenger vehicles are set to be produced in the current fiscal year.
May 05, 2021 19:09
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Industries Ministry Outlines Plans to Bolster Auto Sector
With state support and the technical assistance of knowledge-based companies, 1.2 million passenger vehicles are to be produced in the current fiscal year
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