Industrial sector should use stock market capacities for funding projects: SEO head

TEHRAN – Head of Iran’s Securities and Exchange Organization (SEO) has said the stock market is the most important source of capital for development projects and the industrial sector should use this market’s capacities for funding their projects.

Speaking in the SEO’s second industry expert desk on Sunday, Mohammad-Ali Dehqan Dehnavi said: “In recent years, the capital market has found a special place in the country’s economy due to the large presence of shareholders. The significance of the capital market is such that today even in political issues, such as presidential election, a large volume of content is related to the stock market, and this shows the important position of this market in the country.”

SEO has started a program for establishing industry expert desks in which the challenges, issues, and needs of various industrial sectors are discussed separately and solutions are presented to overcome them.

The first desk of the SEO, held in mid-May, was focused on the refining industry, while the second desk has been dedicated to the mining industry with a special focus on cement production units.

Speaking in this meeting, Dehnavi pointed to the goals of establishing the mentioned desks, saying: “This desk has a consulting role in the first step and will examine various issues, challenges, and problems of various industries through the interaction of different elements of the capital market and industry.”

These desks can be attended by all producers, relevant associations, scientific and research bodies, and financial institutions, he stressed.

“The opinions of policy-making institutions such as the Ministry of Industry, Mining and Trade, the Research Center of the Iranian Parliament, and members of parliament can also be used in these meetings,” the official added.

The meetings should lead to the preparation and formulation of specific solutions to solve problems and to determine what laws and regulations are needed to address the existing challenges, so that ultimately, by addressing these challenges and consequently the growth and development of the industry, the capital market could also benefit, Dehnavi stated.

Earlier on May 17, the official had mentioned forming expert desks as a productive way for discussing and resolving the issues of various industrial sectors and noted that SEO is seeking to establish expert desks for all the industrial sectors active in the stock market.

EF/MA