Iran Chamber of Commerce Calls for Urgent Reforms

The Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) recently held its 27th general meeting, where members emphasized the need for urgent reforms to the country’s foreign exchange policies. They also requested greater fiscal relief for business owners in the upcoming Iranian calendar year 1405 budget, which begins in late March 2026.

Challenges Faced by Business Owners

Several speakers at the meeting highlighted the challenges faced by business owners due to current currency regulations and taxation pressures. These challenges threaten industrial profitability and private-sector resilience, making it difficult for businesses to thrive. Ehsan Dashtianeh, a board member of the Iranian Steel Producers Association, warned that the steel industry’s profit margins are being squeezed by inconsistent economic policies.

The Steel Industry’s Struggles

Dashtianeh urged the government to align exchange-rate rules across the steel value chain to prevent the steel sector from facing the same fate as other struggling industries. The inconsistent economic policies have created uncertainty and instability, making it challenging for businesses to operate efficiently. If the current trend continues, the steel industry may collapse, leading to significant economic losses and job losses.

Export Currency Repatriation

Hamidreza Salehi, another ICCIMA representative, criticized the Central Bank’s approach to export currency repatriation. He argued that the undervaluation of export earnings discourages exporters and proposed the creation of a private-sector-led export bank to mobilize financial resources and support small businesses in foreign trade. This would help increase export earnings and boost the economy.

Supporting Entrepreneurs

Emad Mardani, a member of the chamber’s board, described entrepreneurs as "the country’s true soldiers," calling for stronger protections for business owners who sustain production and employment despite economic and energy challenges. He emphasized the importance of supporting entrepreneurs, who are the backbone of the economy, and providing them with the necessary resources and incentives to thrive.

Call for Exchange-Rate Stability

ICCIMA Head Samad Hassanzadeh stressed the need for "exchange-rate stability" and "a gradual, coordinated move toward a unified rate," while maintaining support for essential goods. He announced the formation of a joint working group between the Central Bank and ICCIMA to clarify and reform export currency regulations. This move is expected to bring stability to the economy and boost business confidence.

Reforms and Incentives

Hassanzadeh also urged the government to fully implement the Law on Improving the Business Environment and to introduce targeted incentives such as tax exemptions for reputable exporters. These reforms and incentives would help create a more favorable business environment, attracting investment and promoting economic growth.

Conclusion

In conclusion, the Iran Chamber of Commerce, Industries, Mines and Agriculture has called for urgent reforms to the country’s foreign exchange policies and greater fiscal relief for business owners. The challenges faced by business owners, including current currency regulations and taxation pressures, must be addressed to promote economic growth and stability. By implementing the proposed reforms and incentives, the government can create a more favorable business environment, supporting entrepreneurs and boosting the economy.