The Iran Project

Private sector, stimulant to Iran’s economy: 1st VP


Iran’s first vice president Eshaq Jahangiri

IRNA – If anyone doubts the private sector acts as a stimulant to Iran’s economy, he (she) has wrong understanding of economic development mechanism in the country, Iranian first vice-president said here on Monday.

‘Private sector should play a pivotal role in economy,’ Eshaq Jahangiri said at a local conference in this Iranian capital city.

The economy will flourish when the private sector plays a key role and the Article 44 of Iran’s Constitution, which the Supreme Leader has already urged, is implemented.

Article 44 of the Islamic Republic says ‘The economic system of the Islamic Republic of Iran is based on three state, cooperative, and private sectors, and is based on disciplined and correct planning.’

Serious fight against corruption will guarantee the private sector’s activities and ensure a safe climate for them, Jahangiri noted.

‘The enemy is seeking to cripple the country’s economy,’ he concluded.

After Washington’s May 8 exit from the Iran Deal formally known as the Joint Comprehensive Plan of Action (JCPOA), the US has given 90 to 180 wind-down period to other countries before it starts re-imposing sanctions on Tehran on November 4.

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