Economy, Domestic Economy

Engineering, Technical Services Export

Engineering, Technical Services ExportEngineering, Technical Services Export

The export of engineering and technical services could reach $25 billion in five years, if the administration provides substantial support to the sector, head of International Consultants and Contractors Association of Iran (ICCA), Mohammad-Reza Ansari, told IRNA. “Iran exported technical services worth $4.2 billion in the Iranian calendar year ending March 21, 2012; however, the amount plunged to $2.3 billion and $1.2 billion in the following two years due to the imposition of economic sanctions against Iran over its nuclear energy program,” he said. The official predicted that the value of service exports will stand at $1 billion by the end of the current Iranian year (March 20) and could increase to $4 billion in the coming year. He also referred to the allocation of export incentives and providing banking facilities as key contributors to the export of engineering and technical services.