Iran's yearly export of services increases 20 percent
Date
9/23/2024 9:17:38 AM
(MENAFN) Iran's export of services, including tourism, transit, and technical engineering, reached approximately USD12 billion in the past Iranian calendar year 1402 (ending March 19), reflecting a 20 percent increase compared to the previous year. Mohammad-Sadegh Ghanadzadeh, the deputy head for international business promotion at the Trade Promotion Organization (TPO), reported that exports of services in the year 1401 amounted to USD10 billion. He highlighted that about USD2.5 billion of these exports were from technical engineering services, and with the removal of certain obstacles, this figure could rise to USD6 billion.
One of the significant barriers to expanding technical engineering services exports is the issuance of guarantees required for companies to participate in tenders abroad. To address this, the TPO, in collaboration with the Union of Technical and Engineering Services Exporters, developed a proposal package last year, which is expected to resolve many of these challenges once implemented. Ghanadzadeh emphasized the potential for growth in this sector if the government provides the necessary support.
In the first four months of the current Iranian year (March 20-July 21), Iran’s technical engineering services exports exceeded USD200 million, marking an 18 percent rise compared to the same period the previous year, according to Mohammadreza Karimzadeh, head of TPO’s Knowledge-Based Products and Technical and Engineering Services Office. The exported services covered a range of projects in oil and gas, energy transmission, information technology, and water and sewage.
Reza Haj Karim, chairman of the Iran Water Industry Federation, noted that Iran exported USD1.8 billion worth of technical and engineering services over the past two years. He pointed out that countries with higher-than-average economic growth, such as Sri Lanka, Indonesia, and other East Asian nations, present significant opportunities for Iranian companies. Iran’s leading position in exporting technical and engineering services in the water and electricity sectors reflects its advanced expertise, ranking it among the top global producers of power plant turbines.
MENAFN23092024000045015839ID1108704392
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.