Iran's Energy Ministry meets a major part of its need for high-tech equipment with the help of domestic manufacturers, a deputy energy minister said.
"The strategy is aimed at not only taking advantage of domestic expertise, but also creating incentive for the private sector to boost quality to have a say in foreign markets," Sattar Mahmoudi was also quoted as saying by Mehr news agency.
According to the official, close to 95% of power and water equipment are manufactured domestically and the ministry and its subsidiaries purchase equipment made in the country instead of relyinng on foreign brands.
"A necessary condition to invest in electricity and water ventures is to use domestic products," he said, adding that providing contractors buying Iranian products with banking facilities is a top priority of the ministry.
Commenting on the quality of domestic equipment, Mahmoudi said Iranian producers will have no chance of competing in international markets unless they enhance the quality of their brands with the help of cutting-edge technology and undertake foreign projects.
Highlighting the ministry's policy to support domestic products, Mahmoudi said the private sector is expected to improve its excellence so that Iranian power and water markets can be dominated by domestic manufacturers.
He stressed that Iraq, Afghanistan and Pakistan are among top export targets for electricity equipment.
According to the official, the Energy Ministry ranked first in exporting electricity as well as water engineering and technical services from 2012 to 2016.
"Power and water industries account for more than 52% of the country's technical and engineering exports," he said, adding that plans are in place to devise a roadmap to increase such exports to more than 90%.
Mahmoudi noted that engineering exports cannot be boosted unless more tariffs are levied on foreign products that can be manufactured domestically.
"The development of ties with international banks to issue credit guarantees and grant awards to exporters can also play a key role in expanding Iran's market share," he said.
