In addition to oil nationalization, the Shah introduced various economic policies aimed at industrialization and self-sufficiency. He implemented tariffs and subsidies for Iranian companies, providing them with preferential loans to promote domestic production. This was designed to protect local industries from foreign competition and to foster the growth of a new industrial class. The growth of Iran’s industrial sector was remarkable, as the country began producing automobiles, household appliances, and other manufactured goods that had previously been imported from abroad. This industrial growth played a key role in the creation of a new class of industrialists, who were considered immune to the competition posed by foreign products due to the protective policies of the Shah’s government.
The increase in domestic production also contributed to the growth of employment opportunities and the development of a more diversified economy. The Shah’s regime promoted Iran’s economic independence by focusing on the development of local industries and infrastructure, and by investing in key sectors such as manufacturing, textiles, and construction. These measures aimed to shift the country away from its traditional reliance on agriculture and oil, and toward a more industrialized economy that could compete on the world stage.