Iranian MP says government’s duty in post-sanctions era is heavy

Business Materials 22 July 2015 17:18 (UTC +04:00)

Tehran, Iran, July 22

By Temkin Jafarov - Mehdi Sepahvand -- Trend:

Iranian MP Mohammad Ali Madadi says the administration of President Hassan Rouhani has a heavy duty in managing post-sanctions economic affairs.

"After the nuclear deal, foreign bodies are coming to Iran for investment. One of the biggest problems in Iran is unemployment, which we hope will be eradicated as foreigners start investing in Iran and the economy is revived. There, the government has to take care and yield proper management. It has to prepare the ground in security, political, and social terms for the investors," he stated.

On July 19 German Vice Chancellor Sigmar Gabriel led a high-ranking economic delegation to Iran to explore investment opportunities.

"A great change has happened. Trust has been built. Our economy was locked and exports were lowering day by day. The government has to be careful and spend the freed assets solely in the production and exports sectors in order to materialize the resistance economy," the MP said.

Iran's frozen assets abroad amount to $29 billion, Iranian Central Bank Governor Valiollah Seif has said.

"In the meantime, the Parliament supports the government. It votes in favor of the plan to remove some people from the subsidies plan, thus helping the government."

Under an accord reached in Vienna last week, Iran will be subjected to long-term curbs on its nuclear program in return for the lifting of US, European Union and UN sanctions. The deal was signed by the United States, Britain, China, France, Germany, Russia and the EU.

British Secretary of State for Foreign and Commonwealth Affairs Philip Hammond has estimated $150 billion of Iranian assets would be released by the deal and said he expected a significant amount of capital investment to go into Iran 's hydrocarbon infrastructure.

Edited by CN