TEHRAN – According to the latest data released by Iran’s Industry, Mining and Trade Ministry, during the previous Iranian calendar year 1398 (ended on March 19), 27,947 licenses were issued for establishing new industrial units which mark a 14.2-percent increase year on year.

As reported by IRNA, more than 3.63 quadrillion rials (about $86.52 billion) was invested for the construction of the mentioned units which shows a 26-percent rise compared to the preceding year.

The new units are expected to create job opportunities for 633,381 people, 14.2 percent more than the figure for the year 1397 (ended on March 20, 2019).

In the past year, the number of licenses that were issued for the newly established industrial units to start operation also increase by 2.9 percent year on year.

The investment in the newly established units increased 5.3 percent compared to the preceding year, while job creation by the mentioned units fell 1.2 percent.

The average investment in the mentioned sector also increased from 102.1 billion rials (about $2.43 million) in 1397 to 104.5 billion rials (nearly $2.5 million) in 1398.

Earlier this month, Industry Minister Reza Rahmani outlined his ministry’s major programs for supporting the domestic production in the current calendar year.

The Ministry’s programs included supporting the country’s industrial units and facilitating license issuances in order to promote domestic production and non-oil exports.

EF/MA