Dec 1, 2014, 5:21 PM
News Code: 81409301
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Support for foreign investment in auto manufacturing industry

Tehran, Dec 1, IRNA – Managing Director of SAIPA auto manufacturing company said with regard to the existence of proper infrastructures in the country the government has put support for foreign investment on its agenda.

Saeed Madani, speaking at the second International Conference on Auto Industry, further remarked that SAIPA auto manufacturing group is capable of manufacturing 945 thousand vehicles in the country plus 46 thousand in foreign sites such as Syria, Iraq, Venezuela and Sudan.

Stressing that Iran is a big country with a decisive role to play in the region, Madani said there is inexpensive workforce in Iran which puts it after India and this is an advantage in attracting investors.

He said infrastructures which have been provided in Iran’s auto manufacturing industry are very strong while 70% of the required auto parts can be manufactured inside the country.

Pointing to the reduction in manufacture of Pride sedan, Madani said by the year 1395 (2016-2017) Tiba platform will be expanded and in the month of Esfand this year (February/March) manufacture of Saipa 232 with the platform X200 will become operational.

Saying that Iran’s cooperation with China will not be in the long-term, he said foreign auto makers should put their words into action.

He emphasized that with regard to economic indices Iran cannot be ignored in the world, adding that in the meantime Iran plays a determining political, economic and cultural role in the region and enjoys energy and diversified climatic conditions while it is the shortest and quickest way to gain access to regional countries.

He said negotiations have been held with Volvo and expressed hope that manufacture of this brand will commence jointly, adding that at present SAIPA has joint cooperation with Renault, Nissan, Kia, Brilliance and Chang’an.

Madani noted that one of the major targets of SAIPA is development of exports up to 30% while in the past years 12% of products were exported. However, he added, it is predicted that by the year 2016 SAIPA exports will increase.

NS/1664