Tehran, April 6, IRNA � The First Vice-President Eshaq Jahangiri said on Wednesday that the private sector should be major factor for the economic development and that the economy must be ceded to the people themselves.

Addressing the Seminar of National and Regional Division of Work to boost domestic products, Jahangiri said the banking reforms bill will soon be finalized.

He said the ground for investment in Iran should be prepared as 'we expect abundant foreign investments must be channeled toward domestic products in the year 1395 (March 20, 2016-March 20, 2017).'

'Representing government, we have made planning for the Economy of Resistance; The most important approach of the Economy of Resistance is ceding the economy to the people.'

'In 1395, we should try to guide foreign investments towards economy as the financial market should be activated to provide finance for investment and fulfill reforms in the banking system.'

By IRNA