Iran Allots $10 Billion to Support Local Producers

The Central Bank of Iran (CBI) has set aside $10 billion to support domestic production, according to a senior Iranian official.

Deputy Minister of Industry, Mines and Trade Mahdi Sadeqi said the move is aimed at making the local market more accessible to domestic producers.

“A major part of the foreign currency problems of producers have been settled over the past two months,” he said.

He added the ministry has adopted policies to further encourage foreign investment in the country.

He said one of the priorities of the ministry is to boost national brands.

Sadeqi noted several domestic producers of household appliances are designing new products to be able to compete with foreign commodities on world markets.

IFP Editorial Staff

The IFP Editorial Staff is composed of dozens of skilled journalists, news-writers, and analysts whose works are edited and published by experienced editors specialized in Iran News. The editor of each IFP Service is responsible for the report published by the Iran Front Page (IFP) news website, and can be contacted through the ways mentioned in the "IFP Editorial Staff" section.