Resolve to Build Confidence, Business-Friendly Economy

EghtesadOnline: Vice President Es'haq Jahangiri said the government will stick to its reform plans to revamp the business sector and build investor confidence.

News ID: ۷۴۲۰۳۶

11 June 2017

"The government is determined to create an appropriate environment to attract local and foreign investment. We need to act in unison to address the country's mega challenges," Jahangiri was quoted by IRNA as saying on Saturday.

The efficiency and viability of the private sector could give potential overseas investors a positive impression about Iran's market, he noted.

"We should adopt a positive approach to the privet sector… The first consideration for a foreign investors is how the people and authorities of the country they want to invest in treat the private sector."

According to Financial Tribune, Jahangiri was echoing President Hassan Rouhani's assertion earlier this week to push through economic reforms aimed at developing a climate conducive to a free, competitive and functioning economy.

"Politics should be withdrawn from the economic landscape to make room for the private sector. The government should give up [control of] the economy. Neither the government, nor our dear military personnel are good business managers," Rouhani said.

"We need to hand over the reins of the economy to the people and help create a competitive environment."

Rouhani fought off a strong conservative challenge for reelection in the May 19 presidential vote by winning 57% of the ballots cast.

Jahangiri was one of the aspirants for the top job but withdrew at the last minute in favor of Rouhani.

Rouhani was first elected in 2013 on a moderate platform to redefine foreign policy and boost the domestic economy battered by years of international sanctions.

The moderate cleric oversaw negotiations that led to the 2015 landmark agreement to end a 12-year-old standoff with the West over the nuclear energy program.

He hoped that he could exploit the opportunity in the absence of sanctions to spur the economy.

His hopes, however, have been dented by strong opposition from powerful conservative rivals who argue that his policy of open trade with the outside world could ultimately give hostile western powers the opportunity to make inroads into the country.