The private sector is able to thwart the weapon of sanctions against Iran and create opportunities, President of Iran Hasan Rouhani said during a meeting with university professors and business executives.

“Of course, we must take advantage of the opportunities and if we act well, we can take advantage of these conditions today to the benefit of our country,” he said.

Iran needs 8 percent growth and significant investment to lead the country to development, he said, adding that around 800,000 jobs were created last year.

 “Foreign investment and national export must be supported as prerequisite to development and progress”, he added.

U.S. President Donald Trump announced his decision to withdraw from the Iranian nuclear deal that was signed in 2015.

Trump also announced the restoration of all sanctions, including secondary ones in relation to other countries that conduct business with Iran, whose actions were previously suspended as a result of the deal.