News > 600 Trillion Rials (around 2.5 billon USD), the Market Value of the Transportation Industry



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600 Trillion Rials (around 2.5 billon USD), the Market Value of the Transportation Industry

Vice minister of Industry, Mining & Trade declared the market value of the transportation industry as 2.5 billion dollars and said: the market today has an outstanding potential to improve the efficiency of our financial resources in the banking sector that increases cashing in and out in the financial system on the one hand and bank grants offered to the applicants in the sector on the other, which is a blessing for all.
According to the Public Relations of the Governmental Trade Corporation (GTC), Yazdan Seif on the occasion of signing an MOU with Mellat Bank for facilitating payment process of transportation charges for essential commodities to the drivers via SIFA System in association with Mellat Bank and Transportation Web Portal announced that: the banking system is on the frontline combating sanctions and understanding this fact is fruitful for us and for the banking system and can be really helpful especially at this time.
The CEO of GTC also pointed out: “today, one of our main challenges is deprecated transportation system. One of the main barriers in this regard is lack of financial resources. The MOU signed today, can be an outstanding potential for using the resources productively”.
He emphasized that the fundamental parameter in execution of financial projects in banking sector is having an effective cycle between bank grants and repayment of the loans. Lack of this cycle and inefficient flow of money can demotivate the banks in the long run. We hope very much that such projects could resolve the problems in the sector.
The vice minister of Industry, Mining and Trade, in the end mentioned: “we transport around 15 million tons of essential commodities per year. Here, in order to improve on the system, we are looking for the startups for standardizing the tracking system of the trucks and trailers that carry flour”.
He also said: “lack of renovation in our fleet has led to a reduced productivity of the sector, as manifested in escalated fuel consumption such as diesel in the country. Regardless of the risks involved, and using their financial instruments, the banks are supposed to save energy via renovation of the fleet”.
A connected value chain will accelerate the turnover and results into improvement in using the resources which is a key factor in the development process of the country, he added.


14:30 - 26/09/2020    /    Number : 17737    /    Show Count : 185


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