BAKU, Azerbaijan, July 14. Local investments in the Araz Free Trade Zone located in East Azerbaijan Province in northwestern Iran amounted to 80.6 trillion rials (about $135 million), while foreign investments reached $2.6 million in the first 3 months of the current Iranian year (from March 21 through June 21, 2025), Hadi Moghaddamzadeh, head of the Aras Free Zone in northwest Iran, told reporters, Trend reports.
He noted that during the three-month period, licenses were issued for the implementation of local investments worth 194 trillion rials (about $326 million) across 14 projects.
Moghaddamzadeh added that work has also commenced on 10 projects involving investments valued at 272 trillion rials (about $455 million).
The zone official also noted that during this period, licenses were issued for foreign investments amounting to $38.4 million, while projects worth $9.5 million in foreign investments have already been launched.
To note, the Araz Free Trade Zone is located along the Araz River and covers an area of 71,800 hectares. The zone hosts 150 manufacturing and industrial enterprises and is also home to the country’s largest greenhouse, which spans 7,000 square meters.
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