Provincial investment companies to be set up in line with regional development
The new head of Iran’s Securities and Exchange Organization (SEO) said that his organization is planning to set up provincial investment companies that will help provincial and regional development.
Mohammad-Ali Dehqan Dehnavi made the remarks in a meeting with the chairmen of the provinces’ chambers of commerce, industries, mines, and agriculture on Sunday, when elaborating on the polices that his organization is following up.
The meeting was also attended by the Head of Iran Chamber of Commerce, Industries, Mines, Mines and Agriculture (ICCIMA) Gholam-Hossein Shafeie.
The SEO head said, “With the aim of provincial development and focus on the implementation of regional projects, it was decided to establish provincial investment companies”, adding, “The shareholders of these companies are those who have decided not to have direct management of their Justice Shares.”
He considered the main problem of the country's economy today as the investment situation and emphasized, “In the last 10 years, we have witnessed a positive growth of investment for only one or two years. Unfortunately, during this period, the depreciation of capital in the country has always been more than investment, which means that the country's capital has decreased and we had to consume our assets. Continuation of this process means that the country falls into poverty.”
source: TehranTimes
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