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Course contents
(Asia)
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 Iran:
Introduction. Economy. Doing Business.
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Pakistan: Introduction. Economy. Doing Business.
Available Languages :
Learning Unit Summary
Iran
The Iranian economy enjoying a stable condition.
Despite crude oil price fluctuations in the world markets in aftermath
of the September 11 tragic events, the considerable surplus in the oil
stabilization fund and government adherence to implementing
non-expansionary fiscal policies brought about public confidence in
economic policies and helped realize a 4.8 percent growth of the
economy.
In the external sector, efficient foreign reserve
management was pursued with relaxation of foreign trade regulations,
extension of Rial and foreign exchange facilities to export sector,
exemption of exports from taxes and charges, and gradual elimination of
non-tariff barriers. Increasing the number of foreign currencies traded
on the TSE and bringing a relatively mild stability in foreign exchange
market led to the reformation of inflationary expectations and
enhancement of trade performance.
Giving more freedom to banks in allocating
resources, considerable reduction in the reserve requirement ratios
aiming at raising the potential capability of extending facilities, and
reduction in the banks' rate of deposits were among the important
monetary and credit policies. In order to mop up excess liquidity,
Central Bank issued participation papers in this year as a short-term
instrument of liquidity management.
The Third Five year Development plan is formulated
with a view top various aspects of the existed realities of the country,
the challenges that the economy faces and the emphasis on having a
comprehensive and balanced plan. The3rd FYDP is a package of articles,
policies, and guideline covering 26 sectoral and intrasectoral areas and
provides a comprehensive frameworks for resolving structural impediments
and economic difficulties during the plan period.
The Railway network is particularly expected to play a crucial role
in Railways earnings as it links Central Asian States to the Persian Gulf and
consequently to Europe. Thus the European nations can now
transit their goods in less than 10 days to the Central Asian nations
through this reliable and economical railway system, while being able to
know of their whereabouts at any given time via advanced
telecommunication facilities. During the recent years, the convenience,
comfort, punctuality and dependability of the three railway companies
have increasingly been urging passengers to prefer railway to road
travel. The railway is also linking Tabriz to Istanbul in
Turkey through
Sharafkhaneh, making land traveling convenient from Europe to Pakistan.
Total length of the Iranian railway network is 9,800 km, 5,800 km of
which comprise the main route, over 2,000 km industrial, business and
subsidiary, 146 km (Tabriz-Julfa) is electricity powered and the
remainder are maneuvering lines. In 1375 approximately 9 million
passengers and 23 million tons of cargo were transported by railway
(against the 9,306,000 passengers flown by air).
The first law on foreign investment was ratified in 1955, which, is
still honored, and in 1993 the law for the administration of Free Trade
and Industrial Zones(FTZ), and Special Zones was approved by the
parliament. According to the law "Attraction and Protection of
Foreign Investment" ratified in 1955, foreign investors can invest
in all the economic sections, in which private sector in Iran is
permitted to have activities, in the form of "joint venture"
with Iranian partner.
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