Cooperatives Run 16.5% of Industrial Units

EghtesadOnline: Cooperatives account for 16.5% of Iran’s industrial units as well as 6.6% of all the jobs created in the industrial sector.

News ID: ۷۷۳۶۳۲

01 February 2017

At present, close to 17,200 cooperatives are active in different industrial fields, which have generated jobs for nearly 184,000 people.

About 196,000 people are members of industrial cooperatives across the country, Mehr News Agency reported.

A cooperative refers to a firm owned, controlled and operated by a group for their own benefit. Each member contributes equity capital and shares in the control of the firm on the basis of one-member, one-vote principle, and not in proportion to his or her equity contribution, according to Financial Tribune.