TEHRAN (Iran News) –Head of Tehran Chamber of Commerce, Industry, Mine and Agriculture (TCCIMA) says currently Iran’s economy is around $500b behind Turkey and the investment growth ratio to amortization has increased.
Speaking in an event on developing ecosystem in the petrochemical industry, Masoud Khansari pointed to the efforts of the youth to keep the hopes alive in the country and said that everybody knows that social and economic conditions have become difficult but all together should guide the condition to a better one.
He added that TCCIMA will celebrate its 139th anniversary of foundation soon as the chamber since its first day of establishment has been seeking importing modern innovation and many industries like electricity has been imported by the chamber.
He said that since three years ago the commission on digital innovation has been established in the chamber and it seems, despite decline in investment and flight of capital from the country, saving the national economy has been tied to the innovation and development in the digital economy, and the chamber intends to support the youth who are on this course.
Khansari went on to say that Iran and Turkey’s economies were close to each other in 1979 and currently Turkey’s economy is $500b ahead of Iran and by the way the investment growth ratio to amortization in Iran has declined.
He pointed to the double digit inflation rate in Iran in the recent four decades and noted that the inflation rate in Iran in recent years has been 30 to 40 percent and national currency has lost its value day in day because of the inflation, and at the same time the country faces losing social capital and currently the only hope which has remained is digital development which can compensate the country’s lag.
He also said that sanctions on oil and failure in oil sales has inflicted damages worth of $100b on Iran’s economy, adding that growth in the petrochemical industry is considerable as Iran’s petrochemical products was 3m tons in 1979 which it reached 80m tons in 2018 and it is hoped the amount to reach 133m tons in 2025.
Khansari went on to say that after oil, petrochemicals have the most earnings for the country and expressed hope with new innovations the earnings would increase in this field.
He noted that currently the flight of capital from the country has reached $10b and it is expected the figure to rise and unfortunately elites in all fields are also leaving the country but active youth in the field of startups and knowledge-based sector can improve the economic condition.
