Facilitating Business Space, Strategy for Value Chain Completion

(Monday, August 12, 2019) 22:57

TEHRAN (NIPNA) – A former senior petrochemical official said that the balanced development and completion of the value chain in the Iranian petrochemical industry was in need of facilitating the business environment and government support.

Abbas Shari Moghaddam told NIPNA about the necessity of completing the value chain in the petrochemical industry with the aim of reducing crude oil sale, stating a more active presence of the private sector in the downstream industries with the aim of developing the petrochemical industry should be facilitated, and modifying some regulations in the business environment could be instrumental and helpful in this regard.

The former CEO of the National Petrochemical Company (NPC) said: “We need a national determination for realization of the second leap in the petrochemical industry.

He added: "Undoubtedly, completing the value chain in the petrochemical industry can transform the Iranian economy and to achieve this goal, investors need a transparent space for investment.

The former official stressed the need for facilitation of investment laws and guidelines to encourage domestic and foreign investors, and said: "Strategies to boost investment in the petrochemical industry need to be strengthened because it is an employment-based industry and one of the strategic axes of the economy of resilience."

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