Foreign exchange policies to be aligned with production priorities

Deputy for Public Industries at the Ministry of Industry, Mine and Trade said preserving production is the main priority of the country's foreign exchange policies.

According to Ambassador Arjan Reza Ansari, at the opening ceremony of the Iran Cosmetics Exhibition held on Wednesday, October 22, 1405 at the Iran Mall Exhibition Center, while appreciating the producers and entrepreneurs of the country, he described the industrial activity as valuable in the current difficult economic conditions and said: The planning of the Ministry of Health in the field of policy making and provision of production inputs is followed with the cooperation of the Central Bank and based on the two basic principles of "protection of the country's foreign exchange resources" and "maintenance of production".

Referring to the ups and downs of the country's economy and industry, he said: We will probably face changing conditions in the next year, and accordingly, currency policies will be adjusted according to production priorities and limited resources.

Referring to the import of about 9 billion dollars of public industries last year, Ansari added: In the last 6 months, efforts have been made to continue providing foreign currency in line with the trend of the previous year. However, the increase in global prices and the decrease in production capacity have put additional pressure on the industries.

Emphasizing the necessity of maintaining the country's production capacity, Deputy Minister Sammat announced the design and implementation of three ways to supply foreign currency in addition to bank currency.

He explained: The first way is to use the foreign currency obtained from the producers' own exports, which is followed in the framework of the program to strengthen exports and facilitate it with the cooperation of various institutions.

According to Ansari, the second way is to use other people's export currency through the mechanism of direct trading in the currency exchange center. The plan of the Ministry of Security is that more than 1100 tariff codes in public industries are covered by their export methods and others' exports.

He said the third way is to use his and others' foreign exchange deposits and added: For this method, about 850 tariff codes have been considered in public industries to provide the possibility of providing foreign currency according to the needs of production units.

At the end, Ansari praised the cosmetics companies and asked them to continue their tireless efforts to fulfill the motto of this Iran Cosmetics exhibition (Iran remains beautiful).