June 3, 2023

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Industry Ministry should set up an independent department for SMEs’

Industry Ministry should set up an independent department for SMEs’ – Tehran Times

TEHRAN- Given the importance of small and medium-sized enterprises (SMEs), at least one independent department should be established in Ministry of Industry, Mining and Trade for them so that they will be specifically supported, a board member of Iran Chamber of Commerce, Industries, Mines, and Agriculture (ICCIMA) stressed.

Criticizing the same view toward the SMEs as that toward the large industries, Keyvan Kashefi said: “The rules and regulations are the same for both categories of industries, which puts double pressure on small and medium industries.”

Today, about 80 percent of Iran’s exports are made by about 1,200 large companies, and this has led to the focus of attention and resources, especially the governmental resources, on these industries; he lamented, adding, “Although large industries are drivers of the economy and should be considered, small and medium industries should not be neglected.”

He further considered the neglect of small and medium industries as the main harm to the country’s economy.

Iran’s Ministry of Industry, Mining and Trade’s data show that 31.187 trillion rials (about $107.5 million) has been paid to small and medium-sized enterprises (SMEs) and semi-finished industrial projects with an over 60 percent physical progress during the first three months of the current Iranian calendar year (March 21-June 21).

The mentioned facilities, which are provided for renewing machinery, equipping production units, or completing semi-finished projects, have been paid in the form of bank loans to 917 projects and production units.

The program for offering bank facilities to SMEs and semi-finished projects was kicked off in February 2019 by the Industry Ministry in collaboration with the Central Bank of Iran (CBI).

According to the Industry Ministry data, under the framework of the mentioned program 2,023 SMEs and semi-finished projects in 31 provinces registered to receive facilities in the said quarter.


Original News : https://www.tehrantimes.com/news/468323/Industry-Ministry-should-set-up-an-independent-department-for

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