The Forum for Partners in Iran's Marketplace
 
 
 
 
 
 
 
 
 
 
 
 
 
 
     

May 2017, No. 83


IMIDRO Exclusive

Adopting New Strategies

Employing Strategy to Exit Financial and
Management Challenges and Achieving Stability
 

At the beginning of his activities in the 11th Government, Mehdi Karbassian gave an order to develop two strategies. The first strategy was dealing with six-month and one-year plans ahead, whilst the second one was developed for three to four-year plans.

The main objective of the strategies was exiting challenges and achieving stability and they were employed with considerable success.

Karbassian managed to prevent the disbandment of National Iranian Steel Company (NISCO), a technical and engineering asset in the country.

He convinced Iranian Privatization Organization to preserve the company and entrusted it with the study of comprehensive steel plans, as well as the implementation of provincial and other steel projects.

The same policy was adopted in respect with Iran Minerals Production and Supply Company (IMPASCO) and Mining Activities Investment Insurance Fund and IMIDRO made a great contribution to maintain the companies.

Karbassian strengthened the financial resources of the fund and increased its initial investment ten times to meet the needs of the people involved in mines and mining sector in Iran. This led to the increase of his popularity among the miners.

As a result of his direct negotiation, a part of IMIDROís demands was received from the government. Likewise, leading mining companies using the subsidiary mines of the organization managed to pay a part of their debt.

The privatized companies paid back a part of their debt and the overdue interest of stocks was received. Hence, IMIDRO started rising again.

In its new plans, the company paid a special attention to the private sector, particularly NGOs, leading mining companies and investors. Likewise, in the process of decision making, the ideas of the experts and elites were accepted warmly. 

Employing Strategy of Development in
International Relations and Attracting Foreign Investment

In 2015 there was a change in the strategies of international relations and attracting foreign investment in the mine and mining industry sector.

Four measures were undertaken in this regard. First, the organization entered into a correspondence with Eshaq Jahangiri, first vice president of Hassan Rouhaniís government, aiming to attract foreign investment. Secondly, the expert panel was formed to develop international strategy. Thirdly, more than 20 interviews were conducted with some experts in the field. And finally, the study of some successful countries in attracting foreign investment in the mine and mining industry sector was conducted.

In these studies, developed countries such as Canada, Australia and China were dealt with. Likewise, developing countries with similar mining structure to Iran, such as Chile, Peru and Kazakhstan were evaluated.

The project is still under way and due to the contribution of an international consultant, the required studies will be carried out to prepare the country for further foreign investment.

 

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  May 2017
No. 83