Export, import of commodities at Iran's ports increase by 7 percent in first half
Date
10/13/2024 4:03:56 AM
(MENAFN) The loading and unloading of goods at Iran's ports experienced a notable increase of seven percent during the first six months of the current Iranian calendar year, which spans from March 20 to September 21. According to the country's transport and Urban Development Ministry, a total of 81 million tons of commodities were handled in this period, compared to 76 million tons during the same timeframe in the previous year. This rise in port activity is significant as it underscores the critical role that these facilities play in Iran's economy, particularly in the face of ongoing U.S. unilateral sanctions.
Iran’s ports serve as vital gateways for both exports and imports, making their development and operational efficiency essential for the country’s economic resilience. In response to the challenges posed by sanctions, the government has prioritized the enhancement of port facilities and the facilitation of goods handling, particularly for basic commodities. This strategic focus has prompted the initiation of various development projects aimed at bolstering the capacity and efficiency of Iran’s ports.
To support this growth, the Ports and Maritime Organization (PMO) has outlined numerous projects intended to enhance and expand the country’s port infrastructure. The ambitious goal is to double the capacity of Iran’s ports within the next five years. To achieve this, the PMO aims to attract significant private sector investment, targeting 300 trillion rials (approximately USD600 million) by the end of the current Iranian calendar year in late March 2025. This investment will be allocated to improving both the infrastructure and operational capabilities of Iran’s ports.
Highlighting the success of past initiatives, PMO Head Ali-Akbar Safaei reported that the organization has successfully drawn in nearly USD1.7 billion in foreign and domestic investment for the maritime sector over recent years. In a press conference, he detailed that around 620 trillion rials (about USD1.24 billion) in domestic investment and USD470 million in foreign investment have been secured. Safaei emphasized the significance of attracting such substantial private sector investment, especially when compared to the overall government budget allocated to the maritime and port sectors.
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