The administration continues to follow the market reform plans of the previous one and indicated that it will diversify Iran's oil-reliant economy. Iran has also developed a biotechnology, nanotechnology, and pharmaceuticals industry. However, nationalized industries such as the bonyads have often been managed badly, making them ineffective and uncompetitive with years. Currently, the government is trying to privatize these industries, and, despite successes, there are still several problems to be overcome, such as the lagging corruption in the public sector and lack of competitiveness. In 2010, Iran was ranked 69, out of 139 nations, in the Global Competitiveness Report.