Baku, Azerbaijan, Jan. 29
By Farhad Daneshvar – Trend:
Iran's Minister of Industry, Mine and Trade Mohammad Reza Nematzadeh has denied that government owns the large part of the shares of the leading car manufacturers in the Islamic Republic.
Mohammad Reza Nematzadeh said that the automotive sector is not a state-run industry in Iran and the government owns only 20 percent of the stocks of the Iranian carmakers, the Fars News Agency reported.
The minister further added that the government has 14.5 percent of the shares of Iran Khodro and 17.5 percent of the stocks of SAIPA.
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Iranian carmakers manufactured more than 946,000 vehicles over the first nine months of the current fiscal year (starting March 20, 2016), indicating a 38.7 percent growth year-on-year.
In the meantime, multinational companies have demonstrated a surge in interest in investment in Iran’s car sector following the implementation of the nuclear deal between the Islamic Republic and the world major powers in January 2016.
