TPO to form fund for supporting technology-based businesses

Iran’s Trade Promotion Organization is pursuing a plan for establishing an export investment fund in collaboration with the National Development Fund (NDF) and the country’s banking system to support technology-based exporters, announced the TPO head.

The NDF has announced its approval and the banks are also fully prepared in this regard and on the other hand, considering the position of knowledge-based and technological products, international companies also welcome participation in the sector, Alireza Peymanpak said on Tuesday, IRNA reported.

The export investment fund creates the capacity for new technology-based firms (NTBFs) to enter the international arena, he said, adding: “By introducing knowledge-based companies that have business potential, the Export Investment Fund creates an opportunity to attract foreign investment and to support this sector.”

According to the official, the idea for establishing the fund was proposed by the Vice Presidency for Science and Technology and the TPO is currently negotiating with the relevant entities to realize the idea.

To have an efficient fund, the mechanism and format must be designed properly from the very beginning so that we do not face problems when it starts providing services, he concluded.

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TPO

Iran

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