Economy, Domestic Economy
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Growth Expected in Auto, Home Appliance Sectors

Growth Expected in Auto, Home Appliance SectorsGrowth Expected in Auto, Home Appliance Sectors

Deputy Minister of Industries, Mining and Trade Mohsen Salehinia said production in automotive and home appliance sectors is expected to rise by the end of the first quarter of the current Iranian year (March 20-June 20).  “Visits by representatives of foreign companies aimed at establishing joint ventures with their Iranian counterparts will spur production in these sectors,” Salehinia was quoted as saying by Mehr News Agency.  “However, the fate of other sectors hinges on more dynamism within the government and the domestic economy.”  The ministry will lend its support to sectors facing excess supply as a result of their loss of export markets during the sanctions period, he added, citing the example of cement, tiles and ceramics sectors. Salehinia noted that with the lifting of sanctions in mid-January, many of these lost markets began to reengage with Iranian producers.

Financialtribune.com