The value of Iran’s technical-engineering services stood at $700 million during the first seven months of the current Iranian calendar year (March 20-October 21), the Islamic Republic of Iran Customs Administration (IRICA) has announced.

According to the chairman of the board of directors of Iran Power Industry Syndicate, Iran has good capacities for exporting technical and engineering services overseas, which is important in realizing an eight percent growth of Iran’s economy.

All the capacities, whether domestic or foreign, should be used optimally to materialize an eight-percent economic growth in the country, Payam Baqeri said in early May. Focusing on exporting technical and engineering services is one of the areas that can help boost the economy to a great extent, he emphasized.

The member of the Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) went on to say that exporting technical and engineering services can yield foreign currency for the country as well.

In addition, exporting technical and engineering services creates a good opportunity for the country to sell the manufactured products in the target markets, he stated.

Baqeri pointed to a recent inauguration of the Uma Oya Dam and Power Plant in Sri Lanka and added that the multi-purpose project, which was designed and built by Iranian companies, is among the country’s main projects in the field of exporting technical and engineering services.

Exporting technical and engineering services in the current year named “Production Jump with People’s Participation” is a need that should be taken into serious consideration, he stressed.

In late April, the chairman of the Board of Directors of the Iran Water Industry Federation said the country exported $1.8 billion worth of technical and engineering services over the past two years.

Stressing the importance of exporting technical and engineering services, Reza Haj Karim said giant steps have been taken in the administration of President Ebrahim Raisi in the field as compared to the previous years.

Domestic knowledge-based companies have a high potential to export technical and engineering services and can do even better with due support from the government, he underscored.

Haj Karim further noted that Sri Lanka, Indonesia, and East Asian countries are among those whose economic growth is higher than the world average so this Asian market can be a lucrative market for Iranian domestic companies.

As a leading country in the water and electricity industry, Iran stands in the first rank in the region in the export of technical and engineering services in this industry, and this shows the high technical and engineering knowledge and ability of Iranian specialists and companies.

Thanks to the efforts of the country’s specialists in the years after the victory of the Islamic Revolution, Iran is now among the top five power plant turbine manufacturing countries in the world.