51% Rise in New Cooperatives
51% Rise in New Cooperatives

51% Rise in New Cooperatives

51% Rise in New Cooperatives

During the ninth month of the current Iranian year (Nov. 22-Dec. 21), 358 cooperatives with an initial investment of 77 billion rials ($1.74 million) were founded in Iran, registering a 51% increase compared with the similar period of last year.

These cooperatives have around 5,590 members, creating an aggregate of 6,709 jobs, which indicates a 38% decline and a 76% rise respectively, Mehr News Agency reported.

Most of the cooperatives were founded in Fars and Khorasan Razavi provinces. The lion’s share of the new enterprises was launched in the fields of agriculture and industry.

The number of newly-founded cooperatives during the nine months to Dec. 21, however, declined to 2,530 units from 2,880 in last year’s corresponding period.

The parliament has tasked the government with increasing the share of cooperatives in gross domestic product to 25% by the end of the Sixth Five-Year Development Plan (March 2022).

This share was also targeted by the Fifth Five-Year Development Plan which, according to the head of Iran Chamber of Cooperatives, Bahman Abdollahi, now stands at 7%.

Short URL : https://goo.gl/mkmZKV
  1. https://goo.gl/Yg5G8m
  • https://goo.gl/Y1W57W
  • https://goo.gl/7eMe61
  • https://goo.gl/jPhQ8y
  • https://goo.gl/Cg4M9u

You can also read ...

Italian investment companies remain active in Iran, despite...
Iranian Insurance Firms' Premium Income Exceeds $1.2b in H1 (Mar-Sep 2018)
Iran insurance industry earned 183 trillion rials ($1.28...
Iran, India Leading Global Ammonia Capacity Growth
Iran and India will continue to lead the global ammonia market...
Iran Auto Industry Hither and Thither
Over the past few days, Iran’s beleaguered auto industry has...
Iran-Russia Non-Oil Trade Sees Over 80 Percent Hike (September 2018)
Iran traded 956,662 tons of non-oil commodities worth close to...
US Sanctions Against Iran Ridicule Int'l Norms
Foreign Ministry Spokesman Bahram Qasemi on Wednesday...
First-Timers Constitute 20% of Tehran Homebuyers
First-time homebuyers have accounted for a 20% share of total...
Iran Slips 1 Spot in WEF's Global Competitiveness Index
The World Economic Forum’s “Global Competitiveness Report 2018...

Add new comment

Read our comment policy before posting your viewpoints


51% Rise in New Cooperatives | Financial Tribune


The website encountered an unexpected error. Please try again later.