Iran’s VP Inaugurates 57 Nanotechnology Projects

Vice President for Science and Technology, Sourena Sattari, inaugurated 40 industrial and 17 development projects in the field of nanotechnology during a ceremony on Saturday, IRNA reported. The commercial products participating in the event are related to oil and gas, agriculture, composites, construction, health, rail transportation, and nanofluids. One of the projects presented at the ceremony was in the field of nanofluids which worth over IRR 200 billion (~US$769,230). Some 40 products have so far sold IRR 10 trillion (~US$38.4 million) so far and it is predicted to reach a fourfold increase by the next two years and save foreign currency. Selected projects in the field of agriculture and packaging also include the plan to increase the production of greenhouse products using nanobubble technology, active packaging, anti-corrosion packaging of metal parts, improving the shelf life of wheat embryos.

Technology development in Iran

Despite sanctions putting pressure on the country, a unique opportunity was provided for business development and the activity of knowledge-based companies in the country. Currently, over 5,700 knowledge-based companies are active in the country, manufacturing diverse products to meet the needs of the domestic market while saving large amounts of foreign currency.

The fields of aircraft maintenance, steel, pharmaceuticals, and medical equipment, oil, and gas are among the sectors that researchers in technology companies have engaged in, leading to import reduction. In recent years, the vice presidency for science and technology has been supporting knowledge-based companies active in the production of sanctioned items.

Sattari told the Tehran Times in October 2020 that “U.S. sanctions caused exports of knowledge-based companies to decline three years ago, however, it has returned to growth and is projected to reach the pre-sanctions level of more than US$1 billion by the end of the current [Iranian calendar] year (March 20, 2021). Fortunately, last year, companies achieved a record sale of IRR 1.2 quadrillion (~US$4.6 billion), which is expected to increase by  this year.” To date, 42 knowledge-based companies with a total value of IRR 2.8 quadrillion (~US$10.7 billion) have been listed on the stock exchange and they will soon turn into the biggest businesses in the county, Sattari said. - Iran News Daily