18888
Plan to Upgrade Machine-Made Carpet Industry
Economy, Domestic Economy

Plan to Upgrade Machine-Made Carpet Industry

Minister of Industries, Mines and Trade Mohammad Reza Nematzadeh says his ministry plans to utilize financial resources from the National Development Fund of Iran to upgrade the machine-made carpet industry.
He made the remark during his visit to two machine-made carpet factories in Aran-Bidgol region in the central Isfahan Province, IRNA reported.
Nematzadeh said 500 factories in Aran-Bidgol annually produce 45 million square meters of rugs.
“Despite the general belief that textile factories in Iran are on the brink of bankruptcy, some factories are currently generating annual profit of more than 40%,” said the minister.
Over the past two decades, machine-made rugs have become the carpet of choice among many Iranian consumers owing to their low cost and diverse designs.
More than 9 million square meters of machine-made rugs worth about $110 million were exported during the past Iranian year (ended March 20). China, Turkey and Canada are among major buyers of Iran’s machine-made carpet.

Short URL : http://goo.gl/5vd6hr

You can also read ...

Central Bank of Iran Against Market Intervention
Central Bank of Iran's Governor Abdolnasser Hemmati said the...
New Forex Initiative Unable to Tip Scales
The new forex initiative has only managed to fix major policy...
VDMA Backs Iran Trade
Germany’s plastics and rubber machinery trade association,...
Tehran Shows 4th Biggest Upturn in Economist’s Livability Index
Tehran is one of the top five cities in the world to have...
Equity-Based Sukuk Return to Iran Capital Market
The government is set to clear part of its debt to Social...
Musk Bid for Tesla Still Murky
Tesla Inc’s board named a special committee of three directors...
S. Korea Bans Recalled BMWs Over Fire Fears
The South Korean government has said it will ban about 20,000...
Over €81m Worth of Airport Equipment Purchased  Post JCPOA
Iran Airports & Air Navigation Company, an arm of the...

Trending

Googleplus