(Tehran)- Annual shareholder meeting for the financial year to March 20, 2023 of Farda Taali Pishro Technology Company was convened on Tuesday, May 9 in the conference hall of Sadr Tamin Investment Company.

Representatives of shareholders, auditor, inspectors and board of directors of the company, which is a business accelerator of Sadre Farda Company, as well as managers of Sadr Tamin Investment Company attended the meeting, Sadre Farda reported.

Hadi Kamali, company’s chief executive, said calling of the year to March 20, 2023 by the Supreme Leader Ayatollah Ali Khamenei as “knowledge-based job-creation” showed strategic importance of innovation in production.

It was an inevitable necessity for manufacturing companies, Kamali noticed, to get involved in tough global trade competition and have technological innovation.

Sadre Farda Company –a leading player and a strong brand in the country’s mining industry—registered profit for the second consecutive year, he added.

The chief executive explained though expecting annual profit for businesses as young as this accelerator company was unreasonable, Sadre Farda Company performed strongly, racking up 11bn Rials in the years to March 20, 2022 and March 20, 2023 in profits.

The CEO continued that accelerator businesses were known to be cost-oriented rather than profit makers but Sadre Farda recorded positive performance in less than three years while it was innovative too.

The brilliant performance of the company, the chief executive said, was the outcome of hard work by the colleagues, painting a positive outlook for the year ahead.

Kamali said that Sadre Farda Company should put to in its agenda identifying investment opportunities in the field of new and advanced elements in the financial year to March 19, 2024. “The focus of Sadre Farda Company will be launch of knowledge-based businesses in areas such as nickel, magnesium and rare-earth elements, lithium and etc,” he noted.

Kamali pledged at least five investment packages to be offered by the accelerator company to lure investors to launch knowledge-based businesses in the financial year to March 19, 2024.

He stressed the required infrastructure was ready to offer innovative services to the subsidiaries of Sadr Tamin Investment Company to help them use legal capacities to improve knowledge-based production.