Industries Ministry Signs $6.1b MoU With 5 Domestic Firms

Five leading domestic companies will invest $6.1 billion in 62 projects in mining, food, machinery and refining industries as per a memorandum of understanding signed with the Ministry of Industries, Mining and Trade. 
According to Deputy Industries Minister Saeed Zarandi, the MoU was signed for encouraging economic enterprises to rely on domestic capabilities in line with the principles of Resistance Economy. 
The concept of Resistance Economy, first raised by the Leader of Islamic Revolution Ayatollah Seyyed Ali Khamenei in 2011, is a set of principles aimed at curbing the economy’s dependence on oil export revenues, improving productivity and reducing the government’s role in the economy to make the country immune to economic wars waged by foreign powers.