Economy, Business And Markets

Iranian SMEs’ Exports Reach $800m

SMEs’ Exports Reach $800mSMEs’ Exports Reach $800m

Deputy Minister of Industries, Mining and Trade Ali Yazdani said exports by Iranian small- and medium-sized enterprises reached $800 million in the first half of the current Iranian year (March 21-Sept. 22).

Noting that the ministry has predicted $2 billion in SMEs’ exports for the current fiscal year (March 2017-18), the official said that to boost non-oil exports, loans with less than 2% interest rates will be offered to manufacturing entities from the resources of the National Development Fund of Iran.

“The Export Development Bank of Iran will also grant loans with less than 6% interest rates to boost exports by technical and engineering services companies,” IRNA quoted Yazdani as saying.

By definition, enterprises run by 100 workers or less, and 50 workers or less are considered small- and medium-sized respectively, according to Iran’s Small Industries and Industrial Parks Organization.

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