MoU on financing knowledge-based projects signed

A memorandum of understanding was signed on financing knowledge-based projects by the ministries of finance, ICT, and Labor and Social Affair as well as the Vice-Presidency for Science and Technology.

(SHADA: TEHRAN) -- Massoud Karbassian stated that the signing of the memorandum could be a positive step towards the development of the digital economy, and said: The main activity of our capital market has so far focused on the transfer of stock and existing activities, and the primary stock market, which provides initial capital for business, was not taken into a serious consideration, and with this move, an effective step has been taken to strengthen this sector.

So far, the country has been more financed through the banking system, but we should try to transfer financing to other sectors, especially the capital market, he noted.

The Minister of Economy further said that the MOU provides knowledge-based projects with the necessary conditions to use direct investment.

Ideas will be approved by the Ministry of Communications and Information Technology (ICT) and will be discussed in the Supreme Council of Securities and Exchange Organization (SEO), Karbassian said.

Considering the effective and well-funded capital of this project, there is a good opportunity to use this capacity for the youth, the Minister of Economy emphasized.