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Home Economy Economy News 1,500 idle SMEs to be revived by Mar. 2021

1,500 idle SMEs to be revived by Mar. 2021

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1,500 idle SMEs to be revived by Mar. 2021

TEHRAN- As announced by the deputy head of Iran Small Industries and Industrial Parks Organization (ISIPO), some 1,500 idle small and medium-sized enterprises (SMEs) are planned to be revived throughout the country by the end of the current Iranian calendar year (March 20, 2021), IRNA reported.

Asghar Masaheb, the deputy head of ISIPO for small-sized enterprises, also said that of the 1,500 mentioned SMEs, 1,200 units are planned to be revived by the ISIPO and the industry, mining and trade departments of the provinces will revive the rest 300 units under the supervision of ISIPO.

The official further underscored, “While 1,334 idle SMEs were planned to be revived in the previous year, we managed to revive 1,444 units, despite the limited activities in the last month of the year due to the coronavirus pandemic.

Iran’s Ministry of Industry, Mining and Trade’s data show that 335. trillion rials (nearly $7. 99 billion) has been paid to small and medium-sized enterprises and semi-finished industrial projects with an over 60 percent physical progress during the previous Iranian calendar year (ended on March 19).

The mentioned payments were made in the form of 20,930 bank loans to various projects and production units, IRNA reported.

One of the major programs that ISIPO is following regarding the SMEs is reviving idle units and helping them to get back into the business to increase the country’s domestic production and to boost exports to the neighboring countries.

Holding training courses, supporting SMEs' participation in international exhibitions, supporting SMEs research and study projects, and supporting knowledge-based SMEs are some other programs that ISIPO is following to help SMEs expand their activities.

 

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