Developing Petchem Industry, Strategy for Realizing Economic Resilience

Developing Petchem Industry, Strategy for Realizing Economic Resilience
(Saturday, December 28, 2019) 16:09

TEHRAN (NIPNA) – A member of the Tehran Chamber of Commerce says development of the petrochemical industry could enhance export of non-oil items while weaning the economy off crude oil sales in line with the Economic Resilience precepts.

Shahab Javanmardi, a member of the money and investment market of the Chamber of Commerce, speaking to NIPNA, underlined the necessity of developing petrochemical industries in the country, adding in the past, Iran’s budget was deeply dependent on oil revenues but this trend is now changing and development of the petrochemical industry would be a strategy to acceleration this transition.

“We have to work out mechanisms in order to enhance non-oil exports, especially export of petrochemicals,” the official said, adding, “Today, the role of petrochemical industries is much more evident in the economy than the past.”

He said enhancing non-oil exports can be realized by producing more exportable petrochemicals and exporting them to regional and global markets.   

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