21898
Tobacco Industry Eyes Foreign JVs
Economy, Domestic Economy

Tobacco Industry Eyes Foreign JVs

Foreign tobacco brands will come to Iran for joint venture production if cigarette imports cease by the end of the current Iranian year (March 19, 2016), said the CEO of Iranian Tobacco Company.
“Based on the Fifth Five-Year Economic Development Plan (2011-16), the government is required to reduce cigarette imports down to zero by year’s end, and provide and attract assets for domestic and joint venture production. Aided by joint production, the tobacco industry will not only be able to meet domestic demand, but also export,” ISNA quoted Mohammad Hossein Barkhordar as saying.
He pointed to cigarette smuggling as the main threat to the tobacco industry and said contraband cigarettes dominate the market since domestic production cannot meet the consumers’ needs, adding that the issue can only be resolved by attracting foreign brands to invest in the country.
“Domestic production was neglected in recent years, and consequently our production facilities have not been upgraded for a long time,” said the official, highlighting “robust domestic production as the key to success.”
Iranian cigarettes are currently classified as classes B and C in terms of quality, and it is necessary to meet the consumer demand by producing class A cigarettes, he added.

Short URL : http://goo.gl/CeCtPw

You can also read ...

Iran’s President Hassan Rouhani addresses the Iran-France Business Forum in Paris in Jan. 2016. (File Photo)
French businesses and foreign and finance ministry officials...
A ceremony was held to mark National Export Day in Tehran on Oct. 21.
Iran’s National Export Day was marked in a ceremony held in...
CI Ratings Affirms Iran’s Stable Outlook
Capital Intelligence Ratings (CI Ratings or CI), the...
Multilateral MoU to Expand INSTC
Railroad entities of Iran, Azerbaijan, Russia and Belarus...
Istanbul to Host Iranian Expo
A four-day exhibition of Iranian goods and services will be...
S. Africa-Iran Business Forum Next Week
South Africa’s Department of Trade and Industry and its...
Banks Obliged to Set Up Compliance Department
The Central Bank of Iran in its latest directive publicized on...
Real Rial Rate Main Booster of Exports
Iranian exports are currently suffering as a result of an "...

Trending

Googleplus