Iran Honors Local Producers of 'Banned Goods'

Date: 02 August 2019 - 20:59

News ID: ۶۸۸۴۱

TEHRAN (Press TV) - A number of Iranian firms have received government recognition for their efforts to create opportunities out of challenges caused by the unilateral U.S. sanctions on Iran.
A blessing in disguise is how some Iranian firms refer to the U.S. sanctions against Iran’s economy.
It might seem an overstatement but these companies are receiving these awards for creating opportunities out of challenges caused by the sanctions.
Organized by Iran’s Chamber of Cooperatives, this ceremony brought together science-based companies mostly active in civil engineering and construction-related industries to be recognized for their efforts in compensating for the adverse effects of the U.S. sanctions.
This ceremony comes as part of a larger international event dubbed the Exhibition of Construction Industry, which is the second major business event in Iran after the annual oil exhibition. Iran’s Chamber of Cooperatives says this year it has shifted its focus to science-based companies as the only viable alternative for Iran’s oil revenues.
As one of the three pillars of Iran’s economy, the Chamber of Cooperatives has played a key role in upholding the country’s economy by zeroing in on goods that Iran cannot import, while supporting Iranian producers of those products to reduce reliance on foreign supply.
As the U.S. is ratcheting up its economic pressure against Iran, the Islamic Republic is mobilizing all its sectors to keep the wheels of its economy spinning.
Iranian officials say so far their efforts have been a success and they owe this to their reliance on domestic resources.