TEHRAN, Feb. 10 (Shana) -- A member of the Iranian parliament said expansion of the petrochemical industry can boost employment in the country by bringing in modern technologies.

Speaking with Shana, Esmaeil Jalili, a member of the planning, budget and computation committee of the parliament, said Iran enjoys proper grounds for development of the industry given the educated labor it has and the big potentialities of its young population.

He said transfer of modern technologies to the country has been considered by the 6th 5-year development plan adding reduction of production costs by completion of the value chain in the petrochemical industry is a priority which will bring the country wealth and jobs.

The MP said investment regulations must improve so that risk of investment in the country lowers and the private sector can step in projects because of the necessity of its presence in major development projects across the country.

He said specialized petrochemical complexes must be built in the country because they can generate jobs and complete the value chain of the industry.

"Reliance and maximum exploitation of domestic labor, utilizing creating youths and the lessons learned from the sanctions will help us implement principles of the economy of resistance in the energy and petrochemical sectors," said the MP.

By SHANA