Iran reports $2.7 billion in knowledge-based exports despite sanctions
Iran’s Vice President for Science, Technology and the Knowledge-Based Economy, Hossein Afshin, announced that exports from Iranian knowledge-based companies have reached approximately $2.7 billion so far this year, marking a 10 percent increase compared with the same period last year despite ongoing export constraints.
Speaking to Sitna news agency, Afshin said that exports of knowledge-based products specifically accounted for around $650 million, while the total value generated by exporting knowledge-based firms was significantly higher. He described the growth rate as “notable” given limitations affecting international trade.
Afshin also highlighted recent government efforts to expand financial support for innovation-driven enterprises.
He said that before the current administration took office, the Innovation Fund held capital equivalent to about 6.7 trillion tomans (approx. 67 million US dollars), but this figure had grown to 23 trillion tomans (approx. 230 million US dollars) by the end of 2023, nearly a fourfold increase.
As a result, the fund is now able to provide three times more in financial facilities to eligible companies.
He added that the government has incorporated technology development bonds into its investment framework and signed agreements with five major banks, aiming to add roughly 100 trillion tomans (approx. 1 billion US dollars) in new credit lines.
About 15 trillion tomans (approx. 150 million US dollars) of this amount has already been implemented, Afshin said, allowing larger companies to access greater financing.
