Oil income weakens Iran's productivity index
Tehran, Iran, March. 5
By Kamyar Eghbalnejad – Trend:
Iran’s reliance on oil incomes has weakened the country’s productivity index, a senior Iranian industrial official said.
The head of Iranian Mines and Mining Industries Development and Renovation (IMIDRO), Mehdi Karbasian, told reporters on Monday that Iran should admit there is a serious gap between the country and the world concerning the field of technology.
Saying that the country in order to improve its industrial sector needs to lure $250 billion in foreign investment, he added that Iran needs to widen its interaction with the world.
The official further added that Iran, in order to improve its index of productivity, needs to remove bureaucratic obstacles and facilitate the business environment in the country.
Competitiveness of Iranian economy has been appraised, as it ranks 69th among 137 countries, according to the Global Competitiveness Report 2017-2018.
Iran has made progress in comparison with the previous year, where it ranked 76th among 138 economies.
Iran’s economy demonstrates relative productivity in terms of macroeconomic environment (ranked 44th), health and primary education (50th), higher education and training (51st), and market size (19th).
The weakest indicators include financial market development (128th), labor market efficiency (130th), goods market efficiency (100th), business sophistication (97th), institutions (85th), and technological readiness (91st).