Economic turning point

Iran’s economy is now at a turning point from two perspectives; the beginning of a new government and increasing the banking and financial cooperation with the international community. The second term of Hassan Rouhani’s government was commenced in the situation where the Iranian economy witnesses an ever-increasing rise in banking cooperation. At the end of September, tens of billions of euros worth of contracts were inked by foreign banks and Iranian parties, an unprecedented measure in recent years. Now, it can be argued that in spite of the structural problems facing the Iranian economy to finance projects, there will be access to considerable financial resources in the country. The partnerships began in East Asia and came to Western Europe.

Indeed, there are changes in the attitude of the new government towards the economy. Attempts and emphasis on further convergence with private-sector associations and the preparation of a roadmap for mining and its associated industries are among the government’s prospects to address the systematic challenges of economic development.
The government economic team and the presented programs indicate an integrity in the decision-making system. Consequently, the resolutions are expected to be put forward on issues such as determining tariff rates, duties, export, infrastructure, and other rules and regulations. Meanwhile, Ali Khamenei, the Leader of Iran, in a meeting with the new Cabinet, emphasized on active cooperation with other countries. Hence, the development of foreign relations and the enhancement of economic cooperation are also stressed by Rouhani’s second government.
Iranian mining and mineral industry organizations have also joined the movement. Thus, they will make an attempt to seize this favorable opportunity. Likewise, the government has called specialized agencies to participate in the decision-making process and submit their proposals to make the best use of the current conditions. It seems that there is a convergence between the government and the private sector to boost business.