President of Iran Chamber of Commerce, Industries, Mines, and Agriculture (ICCIMA) Samad Hassanzadeh has referred to Iran’s PMI report which signaled contraction in Iran’s industrial sector for a fourth month in a row. He warned that the continuation of this situation could lead to further exodus of capital from the country.
Addressing an ICCIMA board of representatives in Tehran on Monday, he said that unprocessed and minimally processed materials are responsible for the bulk of Iran’s exports which he believed makes the country's economy vulnerable to any internal and external shocks.
Hassanzadeh also noted that energy imbalance is one of the problems facing the country, calling on the private sector activists to make investments in this area to help solve the issue.
He also blamed the government’s trade and forex policies for the country’s last year $17 billion trade deficit, urging the government to revise these policies.
Iran Chamber of Commerce president also referred to regional tensions caused by Zionist aggressions across the Middle East, calling on the government officials to offer diplomatic initiatives, avoiding war while safeguarding the country’s sovereignty at the same time.