In his address in Algeria, Dr. Seyed Rahmatollah Akrami remarked, "It is an honor that we have gathered today at this important meeting to discuss the economic future of Islamic countries and the path to sustainable development."
Emphasizing the central theme of the meeting, "Diversifying Economies, Enriching Lives," he asserted that this approach is not merely economic but a fundamental strategy for achieving social welfare and sustainable development for our nations.
The Acting Minister of Economic Affairs and Finance stated: “In light of recent political crises, particularly the widespread oppression faced by the innocent people of Gaza, we have a duty, grounded in our religious teachings, to stand by the oppressed. Silence in the face of these tragedies is inconsistent with humanity and Islamic principles. Defending the rights of the defenseless and taking a clear stance against oppression is both a human and religious responsibility that aligns with human rights and cannot be overlooked.”
Reflecting on the past few decades, Akrami noted that many economies have been heavily reliant on natural resources and traditional industries. He stated, “This dependence has rendered us vulnerable, presenting numerous challenges. To achieve a resilient and sustainable economy, we must move away from single-product models and prioritize investments in diverse sectors such as artificial intelligence, technology development, smart agriculture, renewable energy, tourism, and the creative and digital industries.”
He further emphasized that the Islamic Republic of Iran is transitioning from an oil-dependent economy to a diversified one. He explained that economic diversification not only fosters growth but also plays a crucial role in enhancing living standards, creating new job opportunities, increasing household income, improving access to health and educational services, and developing social infrastructure—all hallmarks of a dynamic and diversified economy.
The Acting Minister highlighted the significant and growing role of science and technology in Iran's economy, noting that the commercialization of scientific achievements, particularly in medicine and life sciences, has advanced considerably.
He continued, stating that the Islamic Republic of Iran has implemented constructive plans to support low-income groups, providing monthly and targeted subsidies for the purchase of essential goods, particularly aimed at the lower income deciles.
Akrami also mentioned the establishment of the Iran National Innovation Fund (INIF), which supports startups and the commercialization of innovations. He explained that the INIF applies knowledge and research achievements to complete the idea-to-product chain in the market and supports knowledge-based companies. He asserted that investing in education and skills, training the workforce, and supporting startups and innovative technologies are vital for economic growth. Strengthening trade between Islamic countries to reduce dependence on foreign markets and developing sustainable industries and clean energies to protect the environment are also critical solutions for Islamic nations.
He concluded by stating that diversifying economies is not merely a choice but a necessity that will ensure a sustainable and prosperous future for generations to come.
He urged, "We stand at a pivotal moment where our decisions will shape our future. Let us take effective steps towards more diverse economies and richer lives through collaboration, innovation, and a commitment to development."
Akrami added that the Islamic Development Bank and other international institutions can play a pivotal role in facilitating financing and providing technical support to member countries.