Two important events have generated a psychological momentum in the Iranian economy, i.e. the implementation of the so-called Joint Comprehensive Plan of Action1 (JCPOA) on 16 January 2016 and the twin elections that were held on 26 February 2016. The first event will pave the way for sanctions relief and the election results will empower the moderate forces in the Iranian political system to introduce the needed legal and structural reforms to improve the country’s business climate.