"Iran's petrochemical sector will develop rapidly provided that the business environment of the country improves as it must in the post-sanctions setting," he said, adding a national resolve is required if the petrochemical industry is to experience its second leap now that the sanctions have been lifted.
Shari-Moqaddam, who also presides over National Petrochemical Company (NPC), said there are several factors that have led to an unfavorable business environment in Iran including red tape caused by stringent investment regulations which must be resolved in a move to facilitate investment of petrochemical projects by domestic and foreign investors.
"Beside the regulations, their violation and absence of monitoring bodies to ensure observation of the law have added to the trouble in the country," he added.
He said investors need to have a crystal-clear understanding of the environment where they are investing their money.
"Pathways for attraction of more investments must be pursued in the petrochemical industry because the sector can generate jobs and is regarded as one of the main levers of the economy of resistance," he added.