Proposal to Enhance Business Climate

EghtesadOnline: Members of the Board of Representatives at Iran Chamber of Commerce, Industries, Mines and Trade convened for their last meeting of the current fiscal year (ending March 20) during which they discussed the proposal to improve the country's business climate.

News ID: ۷۸۱۹۸۸

13 March 2018

According to ICCIMA's website, the proposal contains nine points and links the current woes to chronic problems plaguing the country's business environment such as corruption, weak rule of law, lack of stability, non-transparent policies and wastage of resources by the government.

The body, which comprises the country's business leaders, has presented the proposal to put right the situation, including the call for a national momentum to root out corruption and rent seeking.

Another point raised by the entity is the need for promoting positive interactions with the outside world and engaging in global trade based on national interests, Financial Tribune reported.

Establishing judicial justice and security, improving the country's ease of doing business in global rankings, facilitating access of finance for businesses, reducing the risk of investment, promoting monetary and fiscal discipline, and reforming the taxation system are also highlighted in the proposal.

The World Bank’s latest report on ease of doing business shows Iran ranks 124th among 190 economies, indicating a four-notch slide in Iran’s regulatory improvement from last year.

The country’s overall distance to frontier score is 56.48.26. An economy’s distance to frontier is indicated on a scale from 0 to 100, where 0 represents the lowest performance and 100 the frontier.