News & Reports News Year 2010 November , 2010 'Iran govt. will keep TSE stable'

'Iran govt. will keep TSE stable'

Iranian Economy Minister Seyyed Shamseddin Hosseini says the government has been taking measures to keep the Tehran Stock Exchange (TSE) floor stable and profitable.
"We will definitely take measures so that investors can benefit from their investments. Over the past two years, and specifically in recent months, the Tehran Stock Exchange has been one of the most profitable markets in the world," Hosseini told Press TV on Monday.

"Last year, the results of the TSE were remarkable, and so far this year it has been even more profitable compared to the same period last year," he added.

Iran is currently making fundamental changes in its economic sector as part of the government's economic reform plan.

The Iranian government has plans to eliminate indirect subsidies and replace them with targeted ones paid directly to low-income Iranians.

President Mahmoud Ahmadinejad's administration has promised investors that their measures will keep the stock market in the black.

According to Iranian officials, privatization, cheap valuations, and moves to cut red tape and encourage private investors have lured Iranians away from the once-booming property market and attracted them to the TSE.

Iran hopes to raise $12.5 billion by privatizing over 500 state firms during Iranian calendar year 1389 (March 2010-March 2011) and plans to sell all of its refineries and petrochemical units, promising potential investors a solid stream of initial public offerings.

The Tehran Stock Exchange, founded in 1967, currently lists 337 companies with a total value of 732 trillion Iranian rials (about $81 billion).