MP Stresses Funding, Developing Petchem Industry

(Tuesday, February 26, 2019) 17:55

TEHRAN (NIPNA) -- A member of the Iranian parliament underscored the necessity of developing, investing in and funding the petrochemical industry as a lever for job creation in the country.

Speaking to NIPNA, Mahmoud Sadeghi, who represented the people of Tehran, Rey, Shemiranat, Islamshahr and Pardis in the parliament, said attraction of investment needed to be facilitated in the petrochemical sector as it could be instrumental in generation of jobs.

He said attraction of foreign direct investment could bring about economic and even security stability in the country, adding there exist ample investment opportunities in Iran’s oil, gas and petrochemical sectors.  

The MP further said that investment in the petrochemical sector was especially important as the sector prevented sale of raw materials including crude oil and natural gas, adding fresh investment in the sector could accelerate expansion of the industry.

“Sanctions bring challenges with them but given the wisdom apparent in the petrochemical management of the country, we can ensure investment in various sectors of the industry and witness its development,” Sadeghi said.

He further added that development of petrochemicals industry could boost Iran’s non-oil exports and generate considerable revenues for the country which could be pretty helpful for the economy.

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National Petrochemical Company