Knowledge-based companies to hold exhibition in Uzbekistan

TEHRAN – The second exhibition of Iranian knowledge-based companies operating in technology and engineering sectors will be held from February 11 to 14 in Tashkent, Uzbekistan.

Supported by the Organization for Development of International Cooperation in Science and Technology, the event will lay the ground for exporting technical-engineering services in the fields of electricity, energy and water, construction, building materials, oil, gas and petrochemical equipment, mining as well as agriculture, and irrigation equipment.

Notable growth in knowledge-based companies

The significant and fast-paced growth in the number of knowledge-based companies with over 200 percent increase in their number just over the past year (March 2023 – March 2024), shows the solid foundation, dynamism, and growth of the country in innovation and technology and the productive atmosphere which have been made available in line with the goal of boosting domestic production with public participation.

The current administration underscores the quantitative and qualitative development of knowledge-based companies. The number of companies, which was around 5,000 before the current administration took office in August 2021, has now reached 10,000 with a total value of two billion dollars.

exports at $2.5 billion

It seems that knowledge-based companies have progressed well. However, with continuously increasing support knowledge-based companies will have a brighter future.

The high number of knowledge-based companies active in the capital market proves they have fully grown.  Currently, there are 108 companies in the capital market, which is anticipated to grow by 100 percent by the end of the current year, March 2025.

Iran’s knowledge-based companies exported over 3.6 million tons of products, valued at $2.506 billion, in the previous Iranian calendar year (ended March 19, 2024), according to the Islamic Republic of Iran Customs Administration (IRICA).

Based on the IRICA data, some 1.158 million tons of goods, valued at $5.141 billion were also imported by knowledge-based companies into the country from March 21, 2023, to March 19, 2024.

About 85 percent of the goods imported by the knowledge-based companies came from China, the United Arab Emirates (UAE), Turkey, Germany, and India, IRNA reported.

The domestic knowledge-based companies exported their products to China, Iraq, the UAE, Turkey, and Russia in this period, IRICA said.

In this period, the knowledge-based companies accounted for 2.6 and 5 percent of the country’s total exports in weight and value respectively.

Advanced materials and products based on chemical technologies accounted for about 80 percent of the export value of these companies.

China was Iran’s first buyer of knowledge-based products in this period.

MT/MG