Iran Industries Face Serious Cutbacks in Investment
NCRI - The new statistics released by the Iran regime’s Ministry of Industry on industrial indicators show that the investment process in the Iranian industry has decreased by 18%.
According to Mashreq News, based on the statistics released by the Ministry of Industry in the first quarter of 2017, in total, more than 56,773 billion Rials of capital was issued for industrial operation license, which is 18% lower than the same period last year.
The statistics also show that over the same period in previous year, the capital allocated to industrial operation license was over 69 thousand 383 billion Rials.
Earlier, Mohammad Mohammad-Pur, head of the Mazandaran Industry, Mining and Commerce Organization, told state-run IRNA news agency: “The lengthy time for obtaining permits, imposing non-standard pressure, importing products, changing the rules, irresponsible comments by some related and non-related officials, laws and rates of variable interest rates, exchange rate stability, quasi-governmental squadrons, and lack of infrastructure are among the challenges facing investment in the country.”
Banking problems are one of the most important problems facing Iran in attracting investors in all sectors of the economy, including the industrial sector. Many of the world's major banks are reluctant to cooperate with Iran and have ceased their negotiations with Iran.
According to the state-run Mehr news agency, Hossein Salimi, a member of the Foreign Investment Committee of the Iranian regime’s Organization for Investment and Technical Assistance, said on September 5, 2017: “Major European banks have concerns regarding connection with the banking system of Iran, and Iran's banking talks with the world's major banks have almost stalled.”
This member of the Foreign Investment Board added: “With the publication of some reports from Swift that certain companies operating with Iran have been fined, the talks became slower, and major European banks are feeling worried about the resumption of bank sanctions against Iran and the imposition of limitations and fines by the Americans.”