29 March 2025 - 12:36
  • News ID: 656132
Petchem industry supports attracting new investments

SHANA (Tehran) - The caretaker of the investment management department at the National Petrochemical Company (NPC) said attracting new investments in the "Year of Investment for Production" is a key strategy aimed at boosting output and completing the value chain, adding that NPC is ready to offer full cooperation and support in this effort. 

Hamidreza Ajami described the Leader’s designation of the current Iranian year (1404) as the "Year of Investment for Production" as a valuable opportunity to deepen and expand investment in the value-creating petrochemical industry. He stated that NPC’s investment management team is fully focused on attracting new investments to realize this important goal. 

Ajami noted that the petrochemical sector accounts for about 19% of the total industrial added value and 26% of non-oil exports. He emphasized that despite sanctions, half of the country’s foreign exchange needs are met through petrochemical exports. He described the industry as a high-tech, advanced, and international sector that drives innovation, entrepreneurship, technology-based activities, value chain development, and sanctions resistance. Additionally, he highlighted its role in enhancing economic security and serving as a model of a resilient, non-operational defense economy. 

Unlike many other industries, Ajami said, the petrochemical sector operates in a global competitive environment and can sustain growth without subsidies, customs protections, or import bans. This makes it a key driver of Iran’s economy, with significant comparative advantages that are highly attractive to investors. 

Ajami outlined NPC’s investment plans for the year, including: 

- Comprehensive support for investors 

- Continuous updates to the business licensing system to streamline permit issuance and renewal 

- Simplifying and removing unnecessary bureaucratic hurdles 

- Revising regulations to encourage more investment in petrochemicals 

- Securing financing from domestic and international sources, including banks, financial institutions, and capital markets 

- Implementing new financing models for petrochemical projects using idle capital, with greater private and public participation 

- Expanding domestic and international partnerships based on industry experience and current/future business conditions 

These measures, he said, are part of NPC’s strategy to fulfill the year’s motto: "Investment for Production." 

News ID 656132

Tags

Your Comment

You are replying to: .
0 + 0 =