Iranian companies involved in the water and power industries undertook 100 foreign projects in the last decade, overseas project manager in Iran's Water Resources Management Company (a subsidiary of Iran's Energy Ministry) said.
“Projects costing $4.6 billion were launched in Tajikistan, Africa, Latin America, Oman, Kazakhstan and Iraq,” Shahram Jalali was quoted by IRNA as saying.
Water and power sectors accounted for almost 80% of technical and engineering services export since 2013.
According to the official, domestic firms are capable of constructing thermal power stations, gas turbines, hydroelectric dams and power generators.
Nonetheless, not being a member of World Trade Organization (plus lack of cordial international relations) is seen as a major hurdle to Iran’s active presence in the global engineering and technical services market.
“Removing banking restrictions (imposed by the US sanctions) and manufacturing quality products with proper guarantees are keys to asserting our presence in international markets. It is regrettable that not upholding national interests has been a missing link in our industries.”
Iran has comparative advantage in comparison to regional players including access to international sea lanes, abundant resources, educated labor force and shared borders with countries that need its resources and engineering services, Jalali noted.
Data released by the Trade Promotion Organization of Iran shows income from exports in the power industry surged to a record $2.5 billion in fiscal 2016-17, over 98% of which came from technical and engineering work.