Economy, Business And Markets

New Industrial Projects Topped 2,400 Last Year

Jobs created in industrial areas marked a 20% rise last year compared with the previous year.Jobs created in industrial areas marked a 20% rise last year compared with the previous year.

During the recently-ended Iranian year (March 2016-17), 2,411 industrial projects were launched, which created 38,400 jobs, Iran’s Small Industries and Industrial Parks Organization announced.

“There was a 20% rise in the number of jobs created in industrial areas last year compared with the previous year,” Farshad Moqimi, the deputy head of ISIPO, was quoted as saying by IRNA.

Moqimi noted that last year, 4,031 contracts were signed with investors throughout the country, up 19% compared with the year before.

“Plans are underway to sign 4,550 new contracts with investors and launch 3,400 industrial projects in the new year,” he said.

The government issued more than 15,000 permits for the construction of industrial units with an investment of 1.16 quadrillion rials ($30.7 billion) in the 11 months of the last Iranian year (March 20, 2016-February 18, 2017).

This indicates a 4.4% growth in the number of applications and a 13.5% rise in investment compared with the similar period of a year before, according to the Ministry of Industries, Mining and Trade.

During the period, the government issued 4,564 permits for industrial projects worth an aggregate of 2.3 quadrillion rials ($60 billion), which indicate a 10% rise in the number of permits and a 50% hike in investment compared with last year’s corresponding period, Mehr News Agency reported.

The industrial sector was the main driver of economic growth during the first three quarters of the previous Iranian year (ended March 20, 2017).

Details of Iran’s GDP growth during the period released by the Statistical Center of Iran show that the industrial sector grew by 10.5%.

The Central Bank of Iran says the Iranian economy grew 11.9% during the three quarters, putting industrial growth at 5.8%.

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