Farshad Moghimi, the Deputy Minister of Industry, Mine and Trade and head of the Industrial Development and Renovation Organization of Iran (IDRO), announced significant progress in the country’s vehicle scrapping program. He stated that 350,000 vehicles were scrapped last year, with over 105,000 more taken out of service in the first six months of the current year.

According to a report from Jadeh Makhsous news website, Moghimi also provided an update on the replacement program for old motorcycles, noting that 12,700 individuals have registered to date, and the replacement process is currently underway for them.

Regarding the modernization of industrial infrastructure, he mentioned that efforts to upgrade production lines and machinery have commenced in several provinces. This initiative helps reduce energy consumption, as the new machinery is more energy-efficient and simultaneously boosts productivity.

Highlighting domestic capabilities, Moghimi added that Iran has strong manufacturing potential in sectors like food industry machinery and that its mold-making sector can meet internal demand.

According to Jadeh Makhsous, the Deputy Minister addressed a previous obstacle to industrial renewal, stating that banks did not support modernization projects with financing in the past. However, he confirmed that this issue has been resolved this year following a new directive from the Minister of Industry, which mandates that banks must now officially recognize and provide facilities for these projects. What is your perspective on these industrial developments? Share your thoughts in the comments below.