Economy of Resilience is a tactic adopted by Iran to counter the restrictions the country faced in part by US sanctions.

Ali Adyani, MP, said that the petrochemical industry could accelerate economic development of the country.

The MP, who is also a member of the parliament’s energy committee, said that the sector could ensure economic growth and generation of jobs in the country, adding the industry needs to develop faster so that the economy could boom.

“Undoubtedly, investment in the downstream sector, because of creating value-added and safety of investment, will be lucrative,” the MP added.

The petrochemical industry is one of the most lucrative industries and has continued its growth despite the sanctions, he further argued.

“Currently, favorable infrastructure and resources are available in the country for developing the industry.”