TEHRAN- Private sector can help Iranian economy come out of the recession, said Seyed Kazem Dust-Hosseini, a former member of Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIMA).

Iranian government’s policy of privatization provides an appropriate opportunity for the activity of private sector in the post-sanctions time, he added.

He noted that as the private sector benefits a lot from the country’s economic activities, it can play a supportive role in Iran’s economic development.

To help the country come out of the recession, the private sector should focus on promoting the quality of its activity more than its quantity, Dust-Hosseini further commented.

He went on to say that regardless of the West-led sanctions, which were mainly targeting Iranian state-run sector, and also disregarding what will occur in the post-sanction era, the private sector should improve its status in line with downsizing the government.

He also highlighted that the private sector played a noticeable role in the country’s economy during the sanctions time.

*** Private sector’s impact in attraction of foreign investment

Elsewhere in his remarks, the former TCCIMA member emphasized the role that the private sector can play in Iran’s economic cooperation with the other countries; noting that the private sector can make a good change in the attraction of foreign investment.

The country has transferred 47.738 trillion rials (over $1.308 billion) worth of shares of state-run companies to the private sector in the past Iranian calendar year (March 2014-March 2015).  
 
The Iranian government has envisioned a large privatization program in the Fifth Five-Year National Development Plan (2010-2015), aiming to privatize about 20 percent of the state-owned firms each year.   

Under the present interpretation of the Article 44 of Iran's Constitution, hundreds of state-owned companies have been privatized.     

MA/