Shamseddin Hosseini, speaking Monday at the second International Conference on Investment and Financing in the Oil, Gas and Petrochemical Industries, said Iran still lacks comprehensive oversight of economic data and information — a weakness that complicates policymaking and the implementation of economic programs.

Referring to the recently approved Data Management Law, Hosseini said, “Just as in military operations an intelligence officer enters the field before any action begins, in economics, decision-making without accurate data and analysis leads to policy errors.”

He also recalled the passage of the Production and Infrastructure Financing Law during the previous parliamentary term, calling it one of the most effective pieces of legislation in the financing field. “Once implemented, this law will bring about a significant economic transformation,” he said.

Institutional Reform: The Missing Link in Economic Development

Hosseini criticized institutional imbalances in the country’s economic structure, saying that Iran’s challenges in sectors such as oil and gas stem not only from a shortage of resources but from weak institutional design. “Our policies often encourage consumption and waste rather than promote investment based on productivity,” he said.

“For years, I searched for the missing link of development in the skies,” he added, “but now I know it lies beneath our feet — in reforming our institutions and economic outlook.”

Hosseini said addressing financing challenges in the oil and gas industry requires shifting the government’s role from oversight to facilitation and tapping into public and private sector capacities. “We must allow people to participate transparently and genuinely in energy projects,” he said, proposing public investment packages or anonymous contracts within the framework of the Constitution and financing laws.

He stressed the need to adhere to existing legislation, adding, “We should not make laws just for the sake of lawmaking. If we remain committed to implementing the Production and Infrastructure Financing Law and change our approach from control to facilitation, the country’s financing system — especially in the oil and gas sector — will be transformed.”