News ID: 233819
Published: 0347 GMT November 04, 2018

IMH head: Economic prosperity outcome of capacity management, boosting production

IMH head: Economic prosperity outcome of capacity management, boosting production

Economic prosperity can be brought to domestic market if Iran has a more effective management over its enormous capacities, such as the $382.79-million liquidity available in the country, and directs them towards production sector.

"Through thoughtful planning and making our business atmosphere more transparent we can create a situation in the domestic market in which investors feel secure and no concern over the amount of liquidity is echoed," said Mohammadreza Bahraman, the head of Iran Mine House (IMH), on the sidelines of the 14th International Exhibition for Mines, Construction Machinery and Related Industry and Equipment (Iran ConMin 2018), IRNA reported.

In such a scenario, liquidity will enter the field of production and, thus, help create jobs and curb inflation, Bahraman noted.

Boosting employment is among the main priorities set by the Leader of the Islamic Revolution Ayatollah Seyyed Ali Khamenei, Iranian President Hassan Rouhani and the Iranian Parliament, he underlined, adding to achieve this a more production-oriented approach is required to be adopted and the ground should be prepared for further investments in the domestic production sector.

"This is not a new issue. A glance at [the economic strategies adopted by] a large number of countries shows that they have already begun investment to step up production."

Commenting on Iran ConMin 2018, he said due to unilateral US sanctions on Iran, not many foreign firms were expected to attend the expo.

Bahraman added this comes as 40 firms, particularly small- and medium-sized companies, from six countries have taken part in the event.

On May 8, US President Donald Trump pulled Washington out of the Joint Comprehensive Plan of Action (JCPOA), signed between Iran and P5+1 in July 2015, and reimposed, in two rounds, the White House's unilateral sanctions on Tehran.

He said compared to the earlier editions, those involved in the mining sector, especially machinery manufacturers, have had a more significant presence in this year's exhibition.

Iran ConMin 2018 opened on Friday and will wrap up today. In addition to foreign participants, 160 Iranian firms also attended the exhibition.

According to Iran's Ministry of Industry, Mine and Trade, there are more than 10,000 mines in Iran, of which 6,000 are active.

The country's annual mineral output is estimated at 400 million tons, of which 60 percent pertains to construction materials.

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