Director of the Executive Board of the National Development Fund of Iran (NDFI) Ahmad Doosthosseini said petrochemical projects which help bolster domestic manufacturers can enjoy the fund’s financial resources.
Hosseini said NDFI can only be tapped for financing the
petroleum projects that promote and serve the national economic interests of
He said the NDFI is prepared to support domestic
manufacturers and industrialists on condition that such supports generate
value-added for the country and set the wheel of the economy in motion.
He said unions of domestic manufacturers shall act as monitors
for ensuring that this condition is observed by their subsidiaries and
therefore strike balance between import of certain items and manufacture of
Doosthosseini said those projects whose development is
primarily aimed at enhancing exports and production of items highly looked for
in the domestic market will be prioritized for dipping into NDFI resources. For
example, he said, the resources will not be used for funding projects that will
produce items already available in the country.
The official said the NDFI’s finances can also be used by
projects outside of Iran provided that the equipment and machinery used for
completing the plants will only be supplied by Iranian manufacturers.