Iran’s Business Environment Shows Improvement in 3rd Fiscal Quarter

Iran’s business environment improved in the third fiscal quarter of the current year (Sept. 22-Dec. 20, 2020), Iran Chamber of Commerce, Industries, Mines and Agriculture reported.    
Iran’s National Business Environment Index stood at 5.93 in Q3 to register a 1.98% and 1.66% decline compared with the preceding quarter and the corresponding quarter of last year, the chamber said in a new report published on its website.
The index calculated by ICCIMA measures business friendliness of Iran’s economy, with 10 indicating the worst grade. In other words, the decline in the index is indicative of an improving business environment.
Iran’s National Business Environment Index stood at 6.05 in Q2 of the current fiscal year (June 21-Sept. 21, 2020) and 6.03 in Q3 of last fiscal year (Sept. 23-Dec. 21, 2019) 
“Unpredictability and fluctuations in the prices of raw materials and products”, “uncertainties about policies, rules, regulations and business formalities” and “difficulties associated with getting bank credit” remained the most undesirable factors affecting Iran’s business environment during the period under review, according to the findings of ICCIMA’s 17th report. 
The chamber also measures the index for each of the 31 Iranian provinces, naming Chaharmahal-Bakhtiari Province, Sistan-Baluchestan and Golestan as provinces with the least favorable environments for business and Semnan, Zanjan and West Azarbaijan as the best.