Economy, Auto

Strategic Automotive Plan Released

Strategic Automotive Plan Released
Strategic Automotive Plan Released

The Ministry of Industries, Mining and Trade released a Strategic Plan outlining the key policies and objectives of the 20-Year Vision Plan (2005-25) last week.

The strategic plan includes sections specific to the auto sector in which the industry’s goals and plans have been redefined for the seventh five-year economic development plan that ends March 20, 2026, the Persian daily Donya-e-Eqtesad wrote.

The automotive sector is one of the country’s strategic industries and the second largest revenue maker after oil.

The automotive section covers the current status of the auto industry in Iran and the world. Several practical policies have been put forth in the auto industry, including those pertaining to improving car quality, reducing prices and increasing production.  

Improving the business environment for attracting direct local and foreign investment and starting joint ventures with leading global auto brands have been prioritized so that Iranian vehicles can be exported.

The plan envisions Iran as becoming the leading carmaker in the Middle East, Asia’s fifth and the world’s 11th largest car manufacturer by the end of the seventh FYDP.

Establishing vehicle and auto part manufacturing plants, creating centers for design, test and engineering services and increasing competitiveness based on modern global technological developments have also been emphasized.