Iran Science-Based Companies Improving
 Iran Science-Based Companies Improving

Iran Science-Based Companies Improving

Iran Science-Based Companies Improving

Sales from science-based companies doubled during the last fiscal year (ended March 20) and reached 200 billion rials ($5 million) compared to the 100 billion rials ($2.5 million) in the preceding years.
The number is expected to reach 2 trillion rials ($50 million) over the next three years with more companies coming under the science-based category, Mehr News Agency reported.
After President Hassan Rouhani took office in 2013, the sector witnessed significant growth with the Vice-Presidential Office for Science and Technology offering incentives, tax and import tariff  exemptions to companies in the field.
The Islamic Republic Customs Administration also recognized 26 science-based companies as “certified economic organizations”.  Customs clearance of goods imported by these firms take less time and they pay 50% less customs’ charges.
Moreover, several science-based firms were put on custom exemption list on the condition that the imported goods are used for production within one year after entering the country.
The Vice Presidential Office for Science and Technology also reduced lending rates for science-based companies to 9% from 11%.
It also helped the companies in creating six holdings companies. Several firms active in the same field, namely medical or laboratory equipment, herbal medicine or aerospace industry — were merged to create one entity representing them in the international market.
The government also assisted the companies in creating credit lines to facilitate their international financial transactions.
In 2016, the Ministry of Communications and Information Technology set up a “science corridor” formally called the Center for Information and Communications Technology in Tehran and Alborz provinces.

Short URL : https://goo.gl/4iLVCJ
  1. https://goo.gl/d1xl0O
  • https://goo.gl/mwkMjV
  • https://goo.gl/8XK57n
  • https://goo.gl/xRfzgI
  • https://goo.gl/LbU5Ib

You can also read ...

IMF Pledges Continued Work With Central Bank of Iran
More than a week after US Treasury Department blacklisted...
Billet Export Prices Increase
Iranian export steel billet prices picked up in the week ended...
The Sartak-Pishta border gate between the Kurdistan Regional...
More Grain Shipments to Iran
For transport and logistics industry experts, spring is always...
Majlis Forex Options Still on Agenda
Chairman of Majlis Economic Commission said on Tuesday a...
Foiling US Sanctions on Iran: The EU Blocking Regulation
The EU has announced its intention to protect European...
Bank Lending to Economic Sectors Up 14 Percent
Iranian banks and credit institutions allocated 257.2 trillion...
German Companies Seek Ways to Keep Doing Business With Iran
Germany’s small-to-medium-sized firms, or Mittelstand, are...

Add new comment

Read our comment policy before posting your viewpoints