Speaking at a strategic meeting with Persian Gulf Petrochemical
Industries Company (PGPIC) and knowledge-based firms during the Iran Petrochem
conference, Mohammad Sadegh Khayyatian highlighted the growth of
innovation-driven industries in recent years.
“With the development of the knowledge-based culture and determination
now present in the country, the landscape is vastly different from 12 years
ago,” he said.
The conference, organized by PGPIC—the largest petrochemical holding
in Iran—aims to foster connections between technology developers and industry
stakeholders. Khayyatian expressed hope that buyers and contractors would
capitalize on this opportunity to adopt advanced domestic products.
Encouraging Investment in Petrochemical Innovation
He noted global trends where major corporations invest in diversifying
products and technologies in sectors like oil, gas, and petrochemicals,
emphasizing that PGPIC’s investment arm has received board approval to pursue
these ventures.
“The Innovation and Prosperity Fund stands ready for joint initiatives
with such specialized investment entities to enhance value chains and meet
strategic needs,” Khayyatian said.
He praised Iran's "Leap in Production" law, enacted in 2010
and expanded in 2022, for its role in fostering innovation and supporting
technology demands.
“Article 11, which provides tax incentives for venture investments,
marks a turning point,” Khayyatian stated. Investors with qualifying capital
can benefit from tax exemptions through corporate venture funds.
Strengthening Domestic Production and Guarantees
Khayyatian underscored the importance of supporting the production of
first-generation products by local firms, noting exemptions from public
procurement formalities for pioneering products.
Despite initial resistance from some entities, Khayyatian urged
organizations to accept the Innovation Fund-backed guarantees, reassuring them
of the Fund’s accountability.
“Our motto is that financial concerns should be the least worry for
knowledge-based companies,” he concluded, affirming the Fund's ongoing support
for innovation in the petrochemical sector.